Mitsui Chemicals, a global chemicals manufacturer based in Japan, announced the launch of its second Corporate Venture Capital Fund ‘321Catalyst,’ as well as the establishment of a new subsidiary ‘321Catalyst Ventures,’ which will manage the fund.

Building on the success of its first fund, ‘321FORCE,’ launched with Japanese venture capital Global Brain in 2022, 321Catalyst’s mission will be to accelerate the building of global innovation partnerships and the launching of new products and business.

Through the establishment of the new, independent fund in the USA, Mitsui Chemicals is doubling down on global investments in innovative startups that align with its strategic focus. Strong innovation partnerships with its portfolio companies will allow Mitsui Chemicals to launch new businesses ahead of the race. 321Catalyst will have a fund size of $60 million and a life of 10 years.

Mitsui Chemicals intends to enhance and strengthen its Basic Strategy of ‘building solutions-based business models’ as manifested in its Long-Term Business Plan, VISION 2030. Consistent with this goal, Mitsui Chemicals will continue investing in startups across the world to escalate the launching of new products and new businesses as　well as the transformation of its business portfolio.