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Qualcomm establishes $200M 5G investment fund

QUALCOMM Inc. launched a fund to invest up to $200 million in companies building the 5G ecosystem.

The Qualcomm Ventures 5G Ecosystem Fund will support startups to develop new 5G use cases and expand 5G beyond smartphones across the entire 5G value chain.

"The intent of this fund is to fuel innovative 5G businesses that will be poised to take advantage of the $13.2 trillion economic benefit that 5G will enable by 2035," CEO Steve Mollenkopf said Oct. 24.

The company last year launched its Ventures AI Fund to invest in startups focusing on artificial intelligence.