NEC Corporation to Invest in 5G, 6G and More, Sets Up New $150 Million Fund

NEC Corporation of Japan has said that it is setting up a new “NEC Orchestrating Future Fund”, a Corporate Venture Capital (CVC) fund aimed at driving the ecosystems required for creating a social value by collaboration with partners and customers. The fund will also be used to promote new external services, technologies, and knowledge.

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For the same, the CVC fund will be looking to raise capital to the tune of $150 million by the end of June 2022. Corporate enterprises that share the same goal as the fund would be given an opportunity to participate and contribute to the capital.

NEC Believes Evolution of Network Tech to Drive Creation of New Social Value

In a statement, NEC said that it believes that the transformation of digital services and the evolution of network technology is going to drive the creation of new social value. The new CVC fund will be investing actively in both services and technologies with an aim to maximise the investments by generating synergies.

NEC will also be working with corporate enterprises and portfolio startups for accelerating new business development activities. The company said that the fund would have six areas of focus which includes Smart Cities, 5G/6G, Digital Finance/Digital Government, Healthcare and Life Sciences, DX, and Carbon Neutral.

The major investment areas of the fund would be Asia, Europe, Israel, and the US. The fund was established on December 16, 2021. Note that the maximum fund size is $150 million. The management company for the fund will be Translink Capital.