Deutsche Telekom Raises $350 Million Fund

Deutsche Telekom Capital Partners (DTCP), the venture investment arm of telecommunications provider Deutsche Telekom AG, announced Tuesday it has raised a $350 million growth fund. South Korean wireless telecommunications operator SK Telecom Co. Ltd. committed to the new fund, as did existing investors including Deutsche Telekom, Boston-headquartered HarbourVest Partners, and New York-based Neuberger Berman. The new fund intends to invest between $5 million and $50 million in software companies in fields including cloud technology, 5G, IoT, Cyber, and artificial intelligence.

DTCP is one of the most active investors in the Israeli tech scene and has two Israeli partners, Guy Horowitz and Irit Kahan. The fund has invested in Tel Aviv-based cybersecurity startup GuardiCore Ltd., cybersecurity startup Morphisec Ltd., IoT startup Axonize Ltd., and Israel-based enhanced reality startup Texel, among others.