Japan's Softbank has set up a $250 million venture capital fund to invest in internet and mobile-based applications and services companies.
The operator said it has set up Softbank PrinceVille Investments, through existing venture group Softbank Capital.
The find will be operated in collaboration with Softbank affiliate Alibaba and Taiwan fabless semiconductor firm MediaTek.
According to the announcement, the VC fund will invest in “sector-leading companies in social media, mobile applications, e-commerce, online advertising, gaming and cloud computing.”
In contrast to Softbank Capital's focus on start-ups, the new fund will concentrate on investments on more established companies, particularly to international growth-stage businesses seeking to expand into markets such as Japan and China.
Softbank's fund appears to be the latest effort by an Asian operator to ramp up investments in sectors adjacent to the maturing telecom services segment.
The initiative comes weeks after Australia's Telstra announced an investment to set up a new mobile apps startup, in response to the growing threat to mobile revenues posed by OTT players.