Mitsubishi UFJ Innovation Partners, a subsidiary of Japan’s MUFG, has launched a $136 million fund, while investment management firm Lombard Odier has completed the first close of its Plastic Circularity Fund.

MUFG launches $136m fund

Mitsubishi UFJ Innovation Partners (MUIP), a subsidiary of Japan’s MUFG, has launched a 20 billion Japanese Yen ($136 million) fund called MUFG Innovation Partners No. 3 Investment Partnership fund.

The vehicle aims to facilitate collaboration with innovative startups possessing new technologies such as generative artificial intelligence (AI), to enhance MUFG’s financial services and products, per a release.

MUIP has made strategic investments in more than 40 startups through two core funds totaling 40 billion Japanese Yen and an additional fund focused on Indonesia.

One of the largest financial services players in the world with over 360 global networks across approximately 2,500 locations in more than 50 countries, Tokyo-headquartered MUFG has been recently betting big on Southeast Asia.

Lombard Odier completes first close of environment-focused fund

Investment management firm Lombard Odier has completed the first close of its Plastic Circularity Fund.

Among the initial investors to make commitments in the Fund are Dow and LyondellBasell, per a release. In addition to investing in the Fund, Dow’s Stephanie Kalil will join the Fund’s advisory committee.

The Fund follows a technical, impact and financial screening process to identify and invest in companies offering innovative plastic materials designed for reuse and recyclability, and improved collection, sorting and recycling solutions.

Lombard Odier IM has been investing in private assets since 2007 and currently manages $8 billion (as of June 31, 2022) in private equity, infrastructure and private debt across different funds offering primary and secondary funds’ investments and co-investments.