Mitsubishi Heavy Industries, Ltd. (MHI) is a Japanese multinational engineering, electrical equipment, and electronics corporation headquartered in Tokyo. While primarily an industrial manufacturer spanning energy, aerospace, defense, and infrastructure, MHI also makes strategic corporate venture investments in startups aligned with its business areas, particularly in clean energy, hydrogen, and advanced manufacturing technologies.
63% of their portfolio is in Climate & Energy. Deal activity increased 100% year-over-year (2 deals in the last 12 months). Average disclosed round size is $228.9M (across 15 rounds with reported amounts).
Portfolio
14
Fund Size
—
Top Stage
Series C
Last 12 Mo
2
Team
Akira Arita
Senior Vice President, Energy Systems
Koji Sakatani
Senior Fellow, Vice President, Plants & Infrastructure Systems, CEO and CFO of Primetals Technologies Ltd.
Masahiko Hokano
Senior Vice President, Energy Systems
Taro Fukazawa
Senior Vice President, Plants & Infrastructure Systems
Yoshihiro Ito
Vice President, Industrial Solution Systems, President of Mitsubishi Heavy Industries Thermal Systems, Ltd.
Akira Sugimoto
General Manager, Integrated Defense & Space Systems
Chibumi Kimura
President and CEO(Note3), Plants & Infrastructure Systems
Eisaku Ito
CEO (Note3)
Fumi Hara
Chief Regional Officer, China, Chairman of Mitsubishi Heavy Industries (China) Co., Ltd.
Hidehito Mimaki
Head of Nuclear Energy Systems
Hiroaki Yamamoto
Deputy Head of Commercial Aviation Systems
Hiroko Sato
General Manager,Integrated Defense & Space Systems
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
Portfolio
| Company | Round | Amount | Date |
|---|---|---|---|
 AtmosZero | Unknown | — | Mar 2026 |
 Dg Matrix | Series A | $60M | Jan 2026 |
| FFervo | Series E | $462M | Dec 2025 |
 Sapphire Technologies | Series C | $18M | Sep 2025 |
 Fervo Energy | Bridge | $462M | Jan 2025 |
 ZutaCore | Unknown | — | Jun 2024 |
| Fervo Energy | Series C | — | Feb 2024 |
| DDevon Energy | Series C | $244M | Jan 2024 |
 Advanced Ionics | Series A | $12.5M | Aug 2023 |
| EElectric Hydrogen (EH2) | Series C | $380M | Jan 2023 |
 Electric Hydrogen | Series C | $380M | Jan 2023 |
 Electric Hydrogen | Series C | $380M | Jan 2023 |
| Fervo Energy | Series E | $138M | Jan 2022 |
 Electric Hydrogen | Series B | — | Sep 2021 |
 e-Zinc | Seed | $2.3M | Jan 2021 |
 Monolith | Unknown | $300M | — |
| EElectric Hydrogen (EH2) | Series B | $198M | — |
| Electric Hydrogen | Series B | $198M | — |
| Electric Hydrogen | Series B | $198M | — |
Top Co-Investors
Last updated: 20 October 2026