Toyota’s Woven Capital Appoints New CIO and COO in Push for Finding the Future of Mobility
Female Leadership Pioneering Mobility Innovation
Toyota’s corporate venture capital arm, Woven Capital, has appointed Michiko Kato as its new Chief Investment Officer and CEO of Toyota Invention Partners, and Mia Panzer as Chief Operating Officer. With both top roles now held by women, the firm marks a notable milestone in gender representation at executive levels within corporate VC.
Kato becomes the first female CEO of a wholly owned Toyota subsidiary, drawing on 15 years of investing experience that includes work on the M&A team at Unison Capital and serving as CFO for the Japanese AI startup ABEJA. She joined Woven Capital in 2020 as an early hire and has since led key investments in companies such as reusable rocket company Stoke and autonomous vehicle firm Nuro.
Panzer’s promotion to COO — after previously working in business strategy at one of Toyota’s technology subsidiaries — means that she will oversee finance, operations, human resources, and legal functions for the firm.
Expanding Investments in Cutting‑Edge Mobility
Launched in 2020 as the growth‑stage venture capital arm of Toyota, Woven Capital focuses on backing founders building transformative technologies in mobility, including space, cybersecurity, and autonomous driving.
To date, the firm has raised two funds of $800 million each — totaling $1.6 billion, with plans to support at least 20 new Series B investments. Woven Capital seeks startups that can become strategic collaboration partners with Toyota rather than just portfolio companies. Other examples of companies in its portfolio include satellite company Xona and defense infrastructure startup Machina Labs.
Under the leadership of Managing Director Ro Gupta, Kato and Panzer emphasize a flexible, hands‑on approach to partnerships. “We can co‑lead, we can make small investments, or we can do an aggressive investment; we try to be flexible,” Kato said, describing how the firm works with founders.
Expanding Leadership Roles and Responsibilities
Panzer steps into her COO role at a time when corporate venture capital remains male‑dominated, even as female representation has slowly grown. With Woven Capital’s leadership now helmed by two women, the appointment highlights a broader shift in corporate VC, where female executives are gaining increased visibility and influence.
In her new role, Panzer will be responsible for aligning internal operations with Woven Capital’s strategic goals, managing processes that support successful investing activity, and smoothing coordination between the venture arm and its parent company.
Looking Ahead: Vision for the Future of Mobility
Kato’s vision for Woven Capital is centered on transformative technologies that could fundamentally change how manufacturing and mobility are done. She pointed to areas such as aeromobility, physical AI, and advanced hardware as key domains for future investment.
“I think we can fundamentally transform the way manufacturing is done,” Kato said, reflecting on how Woven Capital can support founders building the infrastructure of tomorrow.
Signaling Broader Industry Trends
These leadership moves underscore Toyota’s intention to be a leader in shaping the future of mobility through strategic venture investing. By strengthening its internal investment team and expanding leadership diversity, Woven Capital positions itself to play a significant role in identifying and supporting startups that are redefining transportation and advancing technological frontiers.
Andrew Lee
