U First Capital, a Venture Capital as a Service for mid-size and large Corporations, has announced to explore investments in Artificial Intelligence and IoT (Internet of Things) startups and established the partnership with DuPont Electronics & Imaging. According to the company, the partnership is an instance of what it calls Venture Capital-as-a-Service.
U First Capital CEO Ekta Dang said that they are thrilled to bring DuPont Electronics & Imaging on-board. With this partnership, they bring a mindset based on the customers’ requirements with a deep focus on product excellence, a concrete technology base to add to. The purpose of the formation of U First Capital is to leverage its technical strengths, network, and experience in to drive investments as a corporate venture capital arm. As a provider of venture capital as a service to major corporations, it didn’t divulge the amount that it will invest through its fresh fund. The company offers its service by bringing external innovation, from startups or university research, in the corporation’s interest areas. As part of the announcement, DuPont Electronics & Imaging Global R&D Director Cathie Markham pointed out that AI, connectivity, and IoT are transforming several industries and bringing with it increased requirements for specialized materials.
Headquartered in Santa Clara, CA, U First Capital will bring together several major companies, startups, venture capitalists, universities, and others. Its advisory board has a number of venture capitalists and executives from Fortune 500 companies.