Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Junichiro Ikeda) today announced that it determined to establish its wholly-owned Corporate Venture Capital Fund (CVC) firm called MOL PLUS (Representative: Takuya Sakamoto; Headquarters: Minato-ku, Tokyo).
MOL PLUS will make a broad range of investments, mainly in early and middle-stage startup companies around the world, that can reform ocean shipping business models and create new businesses from mid-to-long-term viewpoints.
These investments will be centered on domains that can reform business models in ocean transport and logistics, and other domains relating to the MOL Group’s future, such as offshore, environment, ferries, and cruise ships businesses. MOL PLUS aims to generate synergetic effects by combining innovative ideas and technologies from startup companies with MOL Group resources to create new businesses that will PLUS new value to the ocean shipping industry and society.
Outline of MOL PLUS (plan)
This CVC business originated with an idea from the representative of MOL PLUS, Takuya Sakamoto, through the “MOL Group Employee Proposal System (Note 1)”.
With a unified voice, MOL Group continually contributes to social and economic development.
The system was introduced in September 2019 with the objective of providing opportunities for MOL Group employees to maximize their skills and abilities and proactively challenge by themselves and has fostered out-of-the-box thinking in the creation of new businesses and services. In the first year of the system, Sakamoto (who joined the company in 2012) suggested the CVC establishment and his idea was adopted. Since July of 2020, he has been dedicated to the launch of MOL PLUS and realized it.
Source: Hellenic Shipping