HP has launched a new venture fund to invest in startups, the company said on Monday.
While HP didn’t announce how big the fund is, its AngelList page says that it’s focused on technology startups working on 3D, virtual reality, hyper-mobility, Internet of things, and smart machines.
The formation of this in-house investment group, dubbed HP Tech Ventures, was mostly a formality, HP’s chief technology officer Shane Wall told the Wall Street Journal’s Don Clark.
HP has already quietly invested in a handful of startups since November, when the PC/printer company became a separate unit from Hewlett Packard Enterprise.
Corporate VC funds are pretty much the norm these days. Nearly ever big tech company now has an investment arm including Google, Intel, Salesforce, Cisco, SAP, even companies like Comcast.
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