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Sony to set up fund to buy into startups with promising tech

Daiwa Securities Group to help round up capital with promise of big IPO paydays

It is rare for a Japanese manufacturer to set up an investment fund, but Sony is breaking the mold in its search for companies involved in robotics, artificial intelligence, fintech and other sectors.   © Reuters

TOKYO -- Sony has joined hands with Daiwa Securities Group to launch a venture capital fund of over 20 billion yen ($184.7 million) that will help the consumer electronics company tap into promising technology being developed by startups.

The fund will allow Sony to invest in more emerging companies and take larger stakes than it would be able to afford on its own.

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