Toyota launches venture capital fund targeting artificial intelligence startups

Toyota is the latest Fortune 500 company to launch an AI focused venture capital fund. The initial early-stage fund will deploy $100 million and operate as a subsidiary of the Toyota Research Institute. The automaker has strategically positioned itself as an ROI rather than strategic-focused fund -- meaning that it aims to profit like any other VC firm. Jim Adler will serve as managing director of the fund. He has been serving as vice president of Toyota Research and comes from a product background.