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Japan’s KDDI has teamed up with venture capital firm Global Brian to establish a new fund to support startups which can boost the operator’s capabilities in 5G and other technologies.
The Japanese telco plans to invest 20 billion yen ($186 million) over the next five years via KDDI Open Innovation Fund 3 (KOIF3) in startups in areas such as AI, IoT and big data, which KDDI says will grow ever more crucial in the 5G era.
The new fund will operate for 10 years and be managed by Global Brian, targeting startups “that hold promise for generating synergy with KDDI group companies in the coming 5G era,” KDDI says.
The formation of the new fund, KDDI adds, is “in anticipation of the changes that will be brought about as 5G technology comes into widespread use”.
KDDI and its group companies will use their networks, experience and knowledge to seek out promising venture firms in fields such as AI and IoT, the operator said, adding that there are already three programs being launched around AI, IoT and data marketing technologies.
“The investment programs will also make it possible not just for KDDI but also for its group companies to proactively undertake joint development efforts with venture firms,” KDDI noted.
