Renault-Nissan-Mitsubishi to launch $1 billion VC fund
French-Japanese group of automakers Renault, Nissan and Mitsubishi has announced it is launching a $1 billion venture capital (VC) fund called Alliance Ventures. The fund will invest in startups focussing on electrification, autonomy, connectivity and AI. It is set to be largest corporate VC fund in the auto industry over the period until 2022, the companies said in a statement.