Investments
52Portfolio Exits
11Funds
1Partners & Customers
10Mitsubishi Web Traffic
Mitsubishi Rank
Research containing Mitsubishi
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CB Insights Intelligence Analysts have mentioned Mitsubishi in 1 CB Insights research brief, most recently on Mar 16, 2022.
Latest Mitsubishi News
Aug 8, 2022
The after-tax profits Dublin-based energy trading provider Erova Energy – which was co-founded by two former ESB executives – fell last year to €5.7m from €8.5m the previous year, newly filed accounts for the business show. The energy trading business’s revenue surged to €293m last year from €91m in 2020 due to the continuing rise in wholesale energy prices. It focuses on the provision of risk and revenue optimisation of renewable energy technology. It has also expanded its presence on the offshore wind energy market in the UK. Erova was co-founded in 2015 by its managing director Michael Brennan and director of trading Fergal O’Donnell. Mr Brennan worked for the ESB as a proprietary trader and analyst, while Mr O’Donnell managed the semi-state company’s thermal fleet, renewables and interconnectors. Until 2018, Erova was solely owned by the co-founders as well as a UK backer and Swiss private equity firm, Seren. A sales process for Erova was launched in the middle of 2017 by advisory firm Jones Lang LaSalle. In 2018, Japanese corporate giant Mitsui acquired a significant stake in the Irish company. It now owns 35pc of the business. Last year, Erova paid a €2m dividend to shareholders, which followed a €3m dividend paid in 2020. The latest set of accounts for Erova note the impact of soaring energy prices over the past year. “The historic rally in commodities was most notably felt in the UK supply market and led to over 30 UK power and gas suppliers – as well as the largest provider of gas shipping services – failing,” the accounts note. The company said that in 2020, it had introduced an internal credit scoring system to set limits, monitor and report bilateral credit exposures. “This system, along with responsive settlement processes, helped Erova minimise its exposure to the default of two UK supply market counterparties,” the accounts point out. They add that Erova secured an expanded credit facility with a key relationship bank, giving the firm greater liquidity, if needed, as “wider energy market credit events become more commonplace”. Business Newsletter Sign Up Last month, another Irish energy trading firm, ElectroRoute, was wholly acquired by existing shareholder Mitsubishi in a multi-million-euro deal. The Japanese group already owned almost 65pc of the company, having bought a controlling stake in 2016. Dublin-headquartered ElectroRoute was founded by executives, including its chief executive Ronan Doherty, in 2011 and employs 90 people across Ireland, the UK, mainland Europe and Japan. Its profit after tax increased to €7.3m last year from €5.8m in 2020. Separately, wind energy provided 21pc of Ireland’s power in July, new figures released this morning show. Wind has now provided 34pc of Ireland’s electricity since the beginning of the year, according to data from Wind Energy Ireland. “While figures in July are lower than previous months, this is in line with seasonal expectations,” said Noel Cunniffe, the chief executive of Wind Energy Ireland. Related topics
Mitsubishi Investments
52 Investments
Mitsubishi has made 52 investments. Their latest investment was in Morgenrot as part of their Corporate Minority on May 5, 2022.
Mitsubishi Investments Activity
Date | Round | Company | Amount | New? | Co-Investors | Sources |
---|---|---|---|---|---|---|
5/20/2022 | Corporate Minority | Morgenrot | Yes | 2 | ||
10/29/2020 | Unattributed VC | WiTricity | $34M | Yes | 17 | |
11/16/2015 | Unattributed VC | Principle Power | Yes | 1 | ||
12/27/2004 | Series A | |||||
12/1/2004 | Series A |
Date | 5/20/2022 | 10/29/2020 | 11/16/2015 | 12/27/2004 | 12/1/2004 |
---|---|---|---|---|---|
Round | Corporate Minority | Unattributed VC | Unattributed VC | Series A | Series A |
Company | Morgenrot | WiTricity | Principle Power | ||
Amount | $34M | ||||
New? | Yes | Yes | Yes | ||
Co-Investors | |||||
Sources | 2 | 17 | 1 |
Mitsubishi Portfolio Exits
11 Portfolio Exits
Mitsubishi has 11 portfolio exits. Their latest portfolio exit was Optimer Photonics on February 22, 2008.
Date | Exit | Companies | Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model. | Acquirer | Sources |
---|---|---|---|---|---|
2/22/2008 | Asset Sale | ||||
1/28/2008 | Acquired | ||||
6/15/2006 | Asset Sale | Undisclosed Investors | |||
Date | 2/22/2008 | 1/28/2008 | 6/15/2006 | ||
---|---|---|---|---|---|
Exit | Asset Sale | Acquired | Asset Sale | ||
Companies | |||||
Valuation | |||||
Acquirer | Undisclosed Investors | ||||
Sources |
Mitsubishi Fund History
1 Fund History
Mitsubishi has 1 fund, including Mitsubishi PE Fund.
Closing Date | Fund | Fund Type | Status | Amount | Sources |
---|---|---|---|---|---|
Mitsubishi PE Fund | Fund Of Funds | Open | 1 |
Closing Date | |
---|---|
Fund | Mitsubishi PE Fund |
Fund Type | Fund Of Funds |
Status | Open |
Amount | |
Sources | 1 |
Mitsubishi Partners & Customers
10 Partners and customers
Mitsubishi has 10 strategic partners and customers. Mitsubishi recently partnered with Sinar Mas Land, and Surbana Jurong on April 4, 2021.
Date | Type | Business Partner | Country | News Snippet | Sources |
---|---|---|---|---|---|
4/12/2021 | Partner | Indonesia, and Singapore | Surbana Jurong, Mitsubishi and Sinarmas Land to jointly develop Jakarta transport complex Surbana Jurong and Mitsubishi Corporation 's joint venture company Mitbana will be jointly developing a multi-modal transport complex in Greater Jakarta with Bumi Serpong Damai , a subsidiary of Sinarmas Land project , which is Mitbana 's first undertaking in Indonesia , involves the construction of a new transit-oriented development located in the Intermoda district in Bumi Serpong Damai City , a satellite township in Greater Jakarta developed and managed by Bumi Serpong Damai.The Intermoda TOD will offer access to multiple public transportation options including road , rail , and park-and ride facilities aimed at reducing congestion from the BSD area to Central Jakarta.The TOD will have a connection to the Cisauk Train Station , which is situated along the commuter line that connects directly to Jakarta 's Sudirman Central Business District in under an hour.When completed , the entire Intermoda TOD will cover a land area of approximately six hectares . | 1 | |
3/23/2021 | Client, and Vendor | United Arab Emirates, and France | Mitsubishi Corporation , Mitsubishi Heavy Industries and KEOLIS S.A. are pleased to announce that they have formed a consortium and signed a 15-year contract to operate and maintain Dubai 's world class driverless metro in Dubai and tram networks with the Roads & Transport Authority of Dubai . | 1 | |
1/11/2021 | Partner | Japan | FUJIFILM Diosynth Biotechnologies is a partnership between FUJIFILM Corporation and Mitsubishi Corporation . | 1 | |
1/1/2021 | Partner | ||||
10/1/2020 | Partner |
Date | 4/12/2021 | 3/23/2021 | 1/11/2021 | 1/1/2021 | 10/1/2020 |
---|---|---|---|---|---|
Type | Partner | Client, and Vendor | Partner | Partner | Partner |
Business Partner | |||||
Country | Indonesia, and Singapore | United Arab Emirates, and France | Japan | ||
News Snippet | Surbana Jurong, Mitsubishi and Sinarmas Land to jointly develop Jakarta transport complex Surbana Jurong and Mitsubishi Corporation 's joint venture company Mitbana will be jointly developing a multi-modal transport complex in Greater Jakarta with Bumi Serpong Damai , a subsidiary of Sinarmas Land project , which is Mitbana 's first undertaking in Indonesia , involves the construction of a new transit-oriented development located in the Intermoda district in Bumi Serpong Damai City , a satellite township in Greater Jakarta developed and managed by Bumi Serpong Damai.The Intermoda TOD will offer access to multiple public transportation options including road , rail , and park-and ride facilities aimed at reducing congestion from the BSD area to Central Jakarta.The TOD will have a connection to the Cisauk Train Station , which is situated along the commuter line that connects directly to Jakarta 's Sudirman Central Business District in under an hour.When completed , the entire Intermoda TOD will cover a land area of approximately six hectares . | Mitsubishi Corporation , Mitsubishi Heavy Industries and KEOLIS S.A. are pleased to announce that they have formed a consortium and signed a 15-year contract to operate and maintain Dubai 's world class driverless metro in Dubai and tram networks with the Roads & Transport Authority of Dubai . | FUJIFILM Diosynth Biotechnologies is a partnership between FUJIFILM Corporation and Mitsubishi Corporation . | ||
Sources | 1 | 1 | 1 |
Mitsubishi Team
1 Team Member
Mitsubishi has 1 team member, including former Senior Vice President, Brian Allen.
Name | Work History | Title | Status |
---|---|---|---|
Brian Allen | Senior Vice President | Former |
Name | Brian Allen |
---|---|
Work History | |
Title | Senior Vice President |
Status | Former |
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