Sparx Group has established a new investment fund to encourage innovation and support the spread of advanced technologies for future generations, based on a memorandum of understanding signed in July this year with Toyota and Sumitomo Mitsui Banking Corporation.

The Mirai Creation Investment Limited Partnership will target AI, robotics and technologies to encourage hydrogen development.

The fund will invest in enterprises possessing innovative technologies in these fields, as well as related projects.

Sparx will act as the fund's general partner with investment capital from the three operators of around JPY13.5bn.

The fund will look to attract additional capital from like-minded investors by March next year.

Ultimately, it is aiming to attract total investment capital of around JPY50bn.