KPN launches €35 million VC fund to promote innovation

KPNDutch telco KPN has launched a dedicated venture fund to step up efforts to “promote outside-in innovation” and increase its exposure to the startup community. 

KPN Ventures launches with an initial €35 million set aside for investments. KPN said it aims to accelerate innovation in products, services and networks for KPN’s customers, and contribute to “the development of innovation ecosystems in the Netherlands.”

“In an environment characterised by an acceleration in the pace of technological innovation, growing demand for connectivity and rapidly changing consumer dynamics, it is more important than ever to partner with agile and innovative players and be part of new developments,” said KPN’s CFO, Jan Kees de Jager.

“We offer potential partners our best-in-class networks, in-depth knowledge of connectivity and security, and the possibility of offering new applications to millions of customers. By combining forces with the start-up community, we demonstrate our commitment to open innovation and accelerate the development and commercialisation of innovative applications.”