Japan-based telecommunications firm KDDI has formed a fund-of-funds in partnership with venture capital firm Global Brain that plans to invest ¥20bn ($187m) in the next five years.
KDDI Open Innovation Fund 3 (KOIF3) was established to back VC funds whose investments could potentially achieve synergy with KDDI as it prepares for the global rollout of 5G, the next generation of mobile networking.
Areas of interest for KOIF3 include the internet of things and artificial intelligence technology, both of which would benefit from increased mobile speeds. The ¥20bn sum includes ¥5bn under the management of KOIF1 and KOIF2.