NEC Orchestrating Future Fund Closes At US$140M

NEC Corporation

NEC Corporation (TSE: 6701), a Tokyo, Japan-based firm focused on IT and network technologies, closed its NEC Orchestrating Future Fund, at US$140M.

This fund was made possible through investments from NTT FINANCE CORPORATION, Mitsui Sumitomo Insurance Company, Limited, Sumitomo Mitsui Trust Bank, Limited, Fund Corporation for the Overseas Development of Japan’s ICT and Postal Services Inc., and Japan Industrial Partners.

NEC will accelerate the creation of new social value through co-creation with international and domestic startups that pioneer new markets with innovative technologies and innovative business models.

This CVC fund has been scouting startups for co-creation in the global market with the aim of realizing five social visions: “City” as a place for people’s activities, “Communication” to connect people and goods, “Business” to support industry and society and fulfill one’s purpose for being, “Environment” and “Life” as a way of life. As of November 2022, the fund has invested in two startup companies and has launched initiatives to create new social value, including a collaboration with SINAI Technologies Inc. in the decarbonization business.

FinSMEs

30/11/2022