Wireless technology company Qualcomm Incorporated (NASDAQ: QCOM) has launched a 5G investment fund.
Qualcomm Ventures 5G Ecosystem Fund will invest up to an aggregate of $200m in companies building the 5G ecosystem. It will focus on investing in startups developing new and innovative 5G use cases, driving 5G network transformation and expanding 5G into enterprise markets.
Managed by Qualcomm Ventures, this fund is designed to help accelerate 5G innovation beyond the smartphone and drive 5G adoption.
It follows the launch, last year, of the Qualcomm Ventures AI Fund, which focuses on investing in innovative startups using on-device AI.
Qualcomm Ventures has a track record of investing in global startups with over 350 investments made since the group started in 2000. This includes notable companies like Zoom, Cloudflare, AMEC, Xiaomi, Cruise Automation, 99, Thundersoft, Fitbit and Waze.