If you're a giant corporate entity, and you see a company doing something that interests you, it'd behoove you to scoop that company up before someone else does. A new report states Renault-Nissan-Mitsubishi Alliance has pooled a bunch of money for exactly that purpose.
The Renault-Nissan-Mitsubishi Alliance has created a $200 million fund that it can use to acquire startups and other companies with haste, Reuters reports, citing sources familiar with the matter. The Alliance will reportedly unveil this fund to the public at CES next week, likely why the automaker group declined comment to Reuters for its report.
Each piece of the Alliance's Triforce will contribute some cash to this fund -- Renault and Nissan will each contribute 40 percent ($80 million), with Mitsubishi picking up the last 20 percent ($40 million).
The Alliance's decision to create such a fund isn't out of the ordinary. If anything, the group's a little behind some of its most major competitors. As Reuters notes, General Motors has been doing the same thing with its GM Ventures fund, and BMW has BMW i Ventures, perhaps the two most visible venture funds in the industry.