NCoTec Ventures, the early-stage investor in wireless technology, is close to landing a cornerstone investor despite difficult fundraising conditions and the departure of one of its founders.

Tim Horlick, the remaining co-founder, is confident the fund will close at around €100m ($91m), by the year-end. It is on the verge of landing a major commitment from a large Japanese corporation, whose business complements nCoTec's fund.