Woven Capital, the growth-stage venture fund of Japanese automaker Toyota, has significantly strengthened its leadership team with two key appointments. Michiko Kato has been promoted to the newly created position of Chief Investment Officer, while Mia Panzer has been named the fund's first Chief Operating Officer. These strategic hires signal a new phase of maturation for the firm as it scales its operations and deploys its latest capital.
A New Phase of Strategic Investment
These appointments follow shortly after the launch of an $800 million fund, Woven Capital's second, which is focused on later-stage startup investments. The leadership expansion reflects a broader trend across corporate venture capital, where established units are professionalizing governance to manage growing fund sizes. This move aims to improve portfolio oversight and align investment strategy more closely with Toyota's long-term vision for mobility.
The firm's core mission is to identify and back future leaders in mobility, including sectors like autonomous driving, cybersecurity, and even space technology. Woven Capital seeks companies that can become valuable collaboration partners for Toyota, strengthening the link between innovative startups and the parent group’s business units. The fund maintains a flexible approach, prepared to co-lead rounds or make smaller, strategic investments to foster these partnerships.
Experienced Leadership for Growth
As Chief Investment Officer, Michiko Kato will now direct the investment team, shape overall strategy, and join the board as a voting member. Having been with Woven Capital since its inception in 2020, she has been a driving force behind its investment activities and operational growth. Her extensive background includes serving as CFO at AI startup Abeja and holding key roles at Unison Capital and the World Bank Group.
In a landmark move, Kato also assumes the role of CEO at Toyota Invention Partners, becoming the first female CEO of a wholly-owned Toyota subsidiary. She has already spearheaded investments into pioneering companies like autonomous vehicle firm Nuro and reusable rocket developer Stoke. Her forward-looking vision is centered on transforming manufacturing through advancements in aeromobility, physical AI, and innovative hardware.
Strengthening Operational Foundations
Mia Panzer's appointment as the first Chief Operating Officer is designed to build a scalable operational backbone for the fund's expansion. She will oversee finance, legal, HR, and operations, with a mandate to ensure seamless execution and strategic alignment with Toyota. Her role is critical in navigating the complexities of a corporate venture unit, particularly in preventing corporate drag from slowing down deals.
Panzer’s experience is uniquely suited for this challenge, having previously served as head of corporate strategy at Woven by Toyota. Before that, she was the finance and operations leader at spatial AI company Carmera, where she was instrumental in its acquisition by Toyota. This history provides her with deep insight into integrating startup agility with the strategic objectives of a global corporation.
The dual appointments of Michiko Kato and Mia Panzer mark a pivotal moment for Woven Capital, reinforcing its commitment to strategic growth and operational excellence. These promotions not only bring seasoned expertise to the fund's helm but also represent a significant advancement for female leadership within the corporate venture capital sector. With this fortified leadership, Woven Capital is well-positioned to accelerate its mission of investing in and partnering with the transformative companies shaping mobility's future.