Taiwan's Hon Hai Precision Industry Co. and Taizo Son's Mistletoe Inc. are among the investors in a €25 million (about ¥3.1 billion) venture fund that will back startups developing new hardware products.
Hardware Club Fund I has closed its first round of financing, and additional fundraising later this year may increase its total value to as much as €50 million, general partner Jerry Yang said in an interview in Tokyo.
Other limited partners include France's Bpifrance Financement SA, insurer Credit Mutuel Arkea SA and Japan's DG Incubation Inc.