Telecoms

If a CVC unit wants to bring in outside money, it needs a great track record, a unique angle and skin in the game.

Q&A with Daisuke Mitani, senior director, KDDI Open Innovation Fund

General partner Steve Schmidt explains how Telstra Ventures managed the transition from internal unit to hybrid CVC firm.

The Telstra-sponsored venture firm expects to raise $350m to $400m for its Fund III in the next few weeks, with backing from institutional investors.

Corporate-backed medical imaging technology producer Lunit is preparing to float in South Korea while cancer drug developer Pheast secured $76m from investors including Alexandria Venture Investments.

SK Hynix, Marvell and M12 helped data centre technology producer D-Matrix pull in $44m while health insurance provider SafetyWing raised $35m from investors including Digital Garage and CreditEase.

Qualcomm’s strategic investment unit has hired Stephanie Hsu to join fellow Brazil-based director Michel Glezer.

Margaret Sheyindemi announced her departure after working for Telefónica’s CVC unit for more than three years.

Mitsui Chemicals’ newly formed $36.8m 321Force unit will focus on healthcare, mobility, ICT and sustainable materials.

The on-demand digital device provider plans to expand through replicating its collaboration with existing investor Deutsche Telekom.