Infocom Group, one of Japan’s largest information technology (IT) solution providers, launched a $20 million fund with Fenox Venture Capital on August 29, 2014. The fund dubbed “Fenox Infocom Venture Fund V” will be managed by Fenox Venture Capital, and is one of several strategic initiatives by Infocom to double its revenue by 2021.
The fund’s investments will focus on North American and Southeast Asian startups with innovative business models and state-of-the-art IT services. Emphasis will be on wearable technologies, Internet of Things (IoT), healthcare, and consumer internet. Startups that receive investment from the fund will enjoy access to Infocom’s distribution channels to sell into East Asia.
“We’ve been working with Fenox VC since September 2013, and are already seeing tremendous results,” said Norihiro Takehara, President and CEO of Infocom Group. “With Fenox Infocom Venture Fund V, we will be able to further accelerate our investment activities in North America and Southeast Asia.”
“We look forward to seeing promising startups that can thrive and grow with a unique relationship with Infocom,” said Anis Uzzaman, co-founder and General Partner at Fenox. “With Fenox serving as a bridge, startups receiving investment can access the expertise of Infocom in both product and business development.”
The fund allows Infocom to diversify and expand its business globally, while focusing on its core IT service offerings. This also marks the close of Fenox Venture Capital’s fifth fund.
About Infocom Group
Infocom Group has 14 subsidiary companies that provide diverse IT solutions including planning, development, and consultation. Its enterprise clients include mobile phone carriers, healthcare providers, educational institutions, and research organizations. Infocom also provides digital content for consumers, and undertakes operations and management of information and communication systems.
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