Press Releases in Hong Kong

NEC Establishes New US$150 Million CVC Fund

TOKYO, Dec 17, 2021 – (JCN Newswire via SEAPRWire.com) – NEC Corporation (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.

Structure of the CVC Fund Ecosystem

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.

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.

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