LG Electronics and Clearbrook partner on $100M NOVA Prime Fund
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LG Electronics and Clearbrook announced a strategic alliance where they are creating a $100 million NOVA Prime Fund to invest in a variety of tech startups.
The fund will invest in companies that are advancing innovations to build a better future, focusing on sustainable energy, digital health, immersive AI, and industries of the future.
The NOVA Prime Fund will be managed by ClearImpact Ventures, Clearbrook’s venture capital arm, and it will target investments at the intersection of sustainability, profit, and purpose. LG Electronics will serve as a limited partner.
The Nova Prime Fund will seek to empower innovative startup companies to build the tools required for a more sustainable future.
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LG NOVA, the North American Innovation Center for global innovation leader LG Electronics, will serve as a contributing source of innovative companies for the fund to invest in and provide a commercial acceleration path for those companies selected through its programs. Selected portfolio companies are also expected to benefit from Clearbrook’s global commercial acceleration resources.
“As a part of our business transformation to a Smart Life Solution company, LG is innovating to expand its services and solutions in new areas of business growth,” said LG Electronics Global CEO William Cho, in a statement. “The strategic investments we’ve made with LG NOVA and its Mission for the Future Program has led us to take the next step in working with Clearbrook and others to support
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