Japan-based IT services provider Infocom has launched a $20m fund that will be managed by US-based venture capital firm Fenox Venture Capital.
Fenox Infocom Venture Fund V will target start-ups with innovative business models and high-quality IT services that are based in North America and Southeast Asia, with a particular focus on wearable technologies, internet of things, healthcare, and consumer internet.
The fund, Fenox’s fifth, follows the initial formation of an investment partnership between the two companies in September 2013, and is being formed to help enable Infocom to diversify and expand its business.
“We’ve been working with Fenox VC since September 2013, and are already seeing tremendous results,” said Infocom CEO Norihiro Takehara. “With Fenox Infocom Venture Fund V, we will be able to further accelerate our investment activities in North America and Southeast Asia.”