TOKYO, JAPAN, December 17, 2021 - NEC Corporation (NEC; TSE: 6701) today announced the establishment of the "NEC Orchestrating Future Fund," a corporate venture capital (CVC) fund aiming to drive the ecosystems required to create social value through collaboration with customers and partners, and 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.

NEC believes that the evolution of network technology and the transformation of digital services will drive the creation of new social value. 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.

Overview of the Fund

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NEC Corporation published this content on 17 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 December 2021 04:38:03 UTC.