TOP PAGE
ENGLISH
JAPANESE
|
CONNECT WITH US:
Home
About
Services
Contact
Log in
Home
Press release
Nov 30, 2022 15:15 JST
Source:
NEC Corporation
NEC Orchestrating Future Fund, an Ecosystem-type CVC Fund, Completes Final Close for US$140 Million
TOKYO, Nov 30, 2022 - (JCN Newswire) - NEC Corporation (TSE: 6701) has completed the final close of the "NEC Orchestrating Future Fund"(1), an ecosystem-type corporate venture capital (CVC) fund established in December 2021 for US$140 million (approximately 20 billion yen). This CVC 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, Inc., which share NEC's vision of the future.
NEC will accelerate the creation of new social value through co-creation with international and domestic startups that pioneer new markets with cutting-edge 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.
Everestlabs.AI provides high value-added solutions for increasing recovery and use of recyclable resources through AI and automation that support the realization of the circular economy
SINAI Technologies Inc. provides end-to-end CO2 calculation and decarbonization intelligence solutions, from reporting to reduction of greenhouse gas emissions
"NEC aims to create social value under the motto 'Let's bring amazing ideas to life, together', and through this CVC Fund, NEC is seeking to realize "insight into the future". The Fund bundles investments by various investors and invests in startups with promising growth based on the judgement of the General Partner. Going forward, we will continue to accelerate initiatives in support of the 'NEC 2030VISION'(2), our vision for the future of society, through the collaboration among well-established companies, institutions, and startups," said Masamitsu Kitase, Senior Vice President, NEC Corporation.
(1) Registered as: NEC AND TRANSLINK ORCHESTRATING FUTURE FUND, L.P.
(2) About the NEC 2030VISION
www.nec.com/en/global/about/vision/index.html
About NEC Corporation
NEC Corporation has established itself as a leader in the integration of IT and network technologies while promoting the brand statement of "Orchestrating a brighter world." NEC enables businesses and communities to adapt to rapid changes taking place in both society and the market as it provides for the social values of safety, security, fairness and efficiency to promote a more sustainable world where everyone has the chance to reach their full potential. For more information, visit NEC at
https://www.nec.com
.
Source: NEC Corporation
Sectors: Cloud & Enterprise, PE, VC & Alternatives
Copyright ©2023 JCN Newswire. All rights reserved. A division of Japan Corporate News Network.
Related Press Release
NEC named among IAM's 2023 Asia IP Elite
December 01 2023 13:50 JST
NEC X and Entrepreneurs Roundtable Accelerator (ERA) Forge Strategic Partnership to Advance East Coast-based Startups
November 29 2023 17:37 JST
NEC Thailand collaborates with Industrial Estate Authority of Thailand to monitor and manage industrial waste in 14 industrial estates
November 10 2023 11:05 JST
Yazaki Corporation and NEC use AI to automatically develop operation plans for multiple robots
November 09 2023 12:27 JST
Kagome, NEC and DXAS introduce agricultural ICT platform "CropScope" to tomato field in northern Italy, saving water and increasing yield
November 09 2023 11:15 JST
NEC and Gurobi Optimization Sign System Integration Partnership Agreement
November 08 2023 15:47 JST
Newly developed data infrastructure for accelerating Open Science through industry-university collaboration in Japan
November 07 2023 12:25 JST
NEC launches free "FireDucks" software for accelerating data analysis using Python
October 19 2023 10:18 JST
NEC and Freshwave Collaborate on Open RAN Project to Deliver Next-Generation Multi-Operator Neutral Host Small Cell Solution for High Traffic Areas
October 17 2023 14:26 JST
NEC awarded the Telecom Infra Project's "Silver Badge" for its disaggregated 400G transponder solution
October 12 2023 17:39 JST
More Press release >>
Latest Press Release
Fujitsu Finland to provide comprehensive IT services to Kempower, provider of electric vehicle fast charging solutions
Dec 05, 2023 10:52 JST
DENSO Announces Organizational and Executive Changes
Dec 04, 2023 18:12 JST
All-New Triton Earns Top Rating in 2023 ASEAN NCAP
Dec 04, 2023 17:07 JST
Fujitsu and KDDI Research successfully implement large-capacity multiband wavelength multiplexing transmission with installed optical fiber
Dec 04, 2023 10:34 JST
GC Collaborates with MHI to explore the utilization of hydrogen, ammonia and CCS technology to develop a large-scale petrochemical plant to achieve Net Zero
Dec 01, 2023 17:22 JST
NEC named among IAM's 2023 Asia IP Elite
Dec 01, 2023 14:50 JST
Eisai's Sales Subsidiary Collaborates with Ministry of Public Health (MOPH) in Thailand
Nov 30, 2023 16:25 JST
Boosting Growth Investment to Power Mobility Company Transformation Toyota-DENSO Capital Ties Revised
Nov 30, 2023 16:17 JST
Olympus's Net-Zero Targets Approved by SBTi
Nov 30, 2023 11:00 JST
Fujitsu and Macquarie University establish new research lab to accelerate development of human sensing and generative AI technologies
Nov 30, 2023 09:34 JST
NEC X and Entrepreneurs Roundtable Accelerator (ERA) Forge Strategic Partnership to Advance East Coast-based Startups
Nov 29, 2023 18:37 JST
MHI Selected as Core Company for New Research Reactor for JAEA
Nov 29, 2023 18:22 JST
Toyota: Sales, Production, and Export Results for October 2023
Nov 29, 2023 16:17 JST
Toyota Re-introduces the Land Cruiser "70" in Japan
Nov 29, 2023 13:30 JST
Mitsubishi Shipbuilding Holds Christening and Handover Ceremony in Shimonoseki for Demonstration Test Ship for Liquefied CO2 Transport
Nov 28, 2023 17:47 JST
Hitachi awarded Sustainable Markets Initiative 2023 Terra Carta Seal
Nov 28, 2023 17:43 JST
MHI Succeeded Combustion Test of Ammonia Single-Fuel Burners
Nov 28, 2023 16:40 JST
JCB partners with FrenchSys to boost card acceptance across France
Nov 28, 2023 12:00 JST
Toyota Launches IMV 0 in Thailand Providing Mobility to Make People's Lives Better through Customizability
Nov 27, 2023 17:30 JST
MHI and Orica Announce Collaboration to Explore Emissions Reduction Opportunities
Nov 27, 2023 15:29 JST
More Latest Release >>