Japan-based telecommunications firm NTT Group is looking to create a ¥20bn ($188m) third corporate venturing fund in July this year, it has announced.
The fund, NTT Investment Partners (NIP) Fund III, will be managed by NTT Docomo Ventures, the corporate venturing unit operated by NTT Group’s mobile network subsidiary, NTT Docomo.
NTT Group and NTT Docomo Ventures will back the fund alongside the corporate’s financial services arm, NTT Finance.
NIP Fund III will focus on sectors such as artificial intelligence, robotics and security, and will aim to drive expansion of NTT’s global business operations and access cutting-edge research and development.
The fund will particularly aim to support NTT’s business growth in an area known as business-to-business-to-x, where a provider offers digital services to a wide range of end users including consumers, enterprises, suppliers and partners.
The vehicle will follow NIP Fund I, launched in 2008 with $147m under management, and NIP Fund II, deployed in 2014 with $98m in commitments. NIP Fund III has a management period of 12 years.