NEC Corporation announced it will set up a $150 million corporate venture capital (CVC) fund aiming to promote new external services, knowledge and technologies.
By the end of June 2022, the CVC fund plans to raise capital from corporate enterprises that share the same goals of the fund, and to reach a total investment of US$150 million.
The CVC fund will invest in both technology and services, and aim to maximize the investment by generating synergies. In addition, NEC will work to accelerate new business development activities by building ecosystems with corporate enterprises and portfolio startups.
The fund has six areas of focus – 5G/6G, Digital Government/Digital Finance, Smart City, DX, Healthcare and Life Sciences, and Carbon Neutral.