ASICS, the Japanese shoe and athletic equipment company, announced on Tuesday it would establish the ASICS Ventures Corporation, a venture capital arm of the company that would accelerate and invest in startups.
ASICS Ventures Corporation has an investment budget of $27 million and is interested in sports and health, innovative technologies, and sustainability. Nikkei reported the fund would be invested over the course of about two years in companies developing sports equipment, wearable devices and sportswear materials with the hope that they could jointly develop products ahead of the 2020 Tokyo Olympics.
“We believe that ASICS can further accelerate our continued quest for innovations, leveraging business development with startup companies that have innovative products and services, technologies and people,” read a statement from the company that has its roots in sports products and sports science.
“ASICS wishes to further ensure our sustainable growth through capital and business tie-ups with startup companies that would create customer values if combined with ASICS group resources.”
