Toyota Puts $300 Million Into VC Arm for Climate, Science Tech

Toyota Motor Corp. is putting $300 million into its venture arm to back early startups focused on climate and so-called frontier technologies in areas like carbon capture, AI and space commercialization.

The infusion increases Toyota Ventures’ total assets under management to more than $800 million, the company plans to announce Wednesday, and comes as companies worldwide have pulled back on venture activities amid a larger downturn.

“If you don’t pursue risky opportunities you’re going to miss out on what’s going on in the world,” said Toyota Ventures general partner Jim Adler.

Toyota Ventures has been profitable thanks in part to its early bet ...