Yamaha Corporation (hereinafter referred to as “Yamaha” or “the Company”)(TOKYO:7951) announces that it will incorporate its base (representative office) in January 2025, which was set up in Silicon Valley, U.S.A. in April 2024 to strengthen business development and enhance sustainable growth. In addition, the Company will form its own fund, Yamaha Music Innovations Fund, LP (tentative name), a corporate venture capital (CVC) fund, in the Silicon Valley area in 2025 for the purpose of investing in start-ups and other companies.
To strengthen global open innovation mainly in the field of sound and music, Yamaha established a business development base (representative office) named “Yamaha Music Innovations” (YMI) in Silicon Valley in April 2024 and started to explore innovation opportunities with startups and other companies. As a result of the Company’s efforts to present its strengths to many companies with the aim of achieving early results, it has concluded three collaborative projects with U.S. companies in the six months through October.
The Company has decided to incorporate YMI so the base can solidify its presence among a wider range of local start-ups and to further strengthen business development initiatives. This will allow the base to operate independently, responding immediately to local conditions, and to realize its global business development strategy through faster decision-making.
YMI will also form a CVC fund with the aim of continuously creating innovations that will contribute to the “Well-Being of People around the World” through sound and music, the Company’s goal. The CVC fund is scheduled to be established in 2025 and will invest in startup companies with unique strengths in their respective fields of expertise, including the existing musical instruments and audio equipment businesses, but also new areas related to the overall music business and adjacent areas where sound and music knowledge can be effectively applied. The fund will allocate a total of US$50 million to such investments.
By co-creating with investees through YMI, Yamaha aims to develop a broader customer base and provides a variety of services.
Outline of the New Corporation
Company name: Yamaha Music Innovations LLC
Location: Silicon Valley, California, U.S.A.
Representative: Yusuke “Scott” Sugino (President and CEO)
Amount of investment: US$800,000
Investment ratio: Yamaha Corporation 100%
Businesses: Business development and CVC fund operation and management
Establishment: January 2025 (scheduled) * * Operation as a corporation scheduled to start in April 2025.
Examples of new business areas that the CVC fund sees as investment targets
