On Tuesday, in a statement NTT Finance said, it aims to establish an investment vehicle which will invest in Israeli tech startups from venture firm OurCrowd’s portfolio.
NTT Finance is a subsidiary of NTT Group, which is also known as Nippon Telegraph and Telephone.
It said it will commit $15 million into OurCrowd’s portfolio through its vehicle, called NTT Finance Israel LP.
In a joint release, NTT and OurCrowd said, NTT will get early access to OurCrowd’s deals in its pipeline which include Israeli firms with technologies such as artificial intelligence and self-driving cars.
“NTT Finance will contribute to pursuing business growth for both NTT Group and startups in Israel, facilitating potential opportunities to launch collaborations between their businesses, through expanding venture investments in IT startups,” said NTT Finance President Yoshikiyo Sakai.
OurCrowd has more than $1.5 billion in commitments and has invested in more than 240 companies and 25 funds.