Mitsubishi's venture capital

Mitsubishi's venture capital

TOKYO (UPI): Mitsubishi will be the first Japanese trading company to enter the U.S. venture capital business, a business newspaper said yesterday.

Mitsubishi, Japan's largest trading firm, wants to back growing U.S. exporters through investment, the Nihon Keizai Shimbun newspaper reported.

"We are planning to acquire mainly growing U.S. exporters of any merchandise," said Takashi Shogase, Mitsubishi Corp.'s international public relations manager.

Mitsubishi will invest $3 million by mid-1996 in Ripplewood Holdings Llc, a fund management firm in New York, Shogase said.