Toyota Motor (TYO:7203) said Woven Capital, a global investment fund launched by its subsidiary Woven by Toyota, has become a specified subsidiary following an additional investment completed on July 26, 2024, according to a Friday filing on the Tokyo Stock Exchange.
The latest investment, decided on July 10, brought Toyota's total investment in the fund to more than 10% of its capital, triggering the reclassification.
Woven Capital, L.P., based in Delaware, was set up in December 2020 with a capital of 550 million dollars to back growth-stage startups in mobility, automation, AI, data analytics, connectivity and smart cities.
Woven by Toyota holds 99.975% of the fund, while Woven Capital GP, an indirect Toyota unit, acts as general partner with a 0.025% stake.
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