Toyota’s Woven Capital appoints new CIO and COO in push for finding the ‘future of mobility’

Michiko Kato has embarked on a significant new chapter in her career as she takes on the roles of Chief Investment Officer (CIO) of Toyota’s Woven Capital and Chief Executive Officer (CEO) of Toyota Invention Partners. This appointment marks a historic milestone, as Kato becomes the first woman to lead a wholly owned subsidiary of Toyota. Woven Capital serves as Toyota's venture capital arm, dedicated to investing in innovative startups that are shaping the future of mobility, including sectors like space, cybersecurity, and autonomous driving. Last August, the firm announced the launch of its second $800 million fund, which follows an equal investment from its first fund initiated in 2021. The capital aims to support at least 20 new Series B funding rounds, with portfolio companies such as satellite firm Xona and defense technology provider Machina Labs. Kato expressed her ambition to discover the next leaders in mobility, emphasizing the importance of selecting companies that can partner effectively with Toyota. "We are flexible in our investment strategies, whether that means co-leading rounds or making substantial investments," she stated. Her goal is to be directly involved and provide valuable support to emerging startups. Joining Kato in leadership is Mia Panzer, who transitions from a role in business strategy within Toyota’s technology wing to become the new COO of Woven Capital. Both women in these top positions highlight a progressive shift within the traditionally male-dominated investment landscape. Historically, women have had slightly better representation in corporate venture capital than in conventional venture firms. A 2014 report indicated that around 20% of top corporate venture capital teams included women, compared to only 7% at the leading 100 venture firms. In recent years, the percentage of women in venture roles has risen to about 15.4%, suggesting a positive trend for women in investment roles. Kato, who joined Woven Capital in 2020, has amassed over 15 years of investment experience, previously working with Unison Capital and serving as CFO of the AI startup ABEJA. Her notable investments at Woven include the reusable rocket company Stoke and the autonomous vehicle firm Nuro. Kato is particularly enthusiastic about the potential for innovation in aeromobility and physical AI, believing it could revolutionize manufacturing processes. Panzer’s new role encompasses finance, operations, human resources, and legal strategy, and she aims to navigate potential challenges, such as corporate slowdowns that could hinder investment opportunities. Reflecting on her journey, she noted that women often underestimate their qualifications for leadership roles, whereas their male counterparts tend to seize opportunities without hesitation. Panzer emphasized the importance of pursuing one’s passion and expertise, drawing inspiration from the Japanese concept of ikigai, which encourages individuals to find their purpose through a blend of what they love, what they are good at, and what the world needs. Together, Kato and Panzer are set to lead Woven Capital into a new era of innovation and investment, signaling a promising future for women in leadership within the corporate venture capital space.