The venture fund, founded in 2020 and based in Bellevue, Washington, focuses on companies developing core technologies, products, and services that unlock the power of a nationwide 5G network. T-Mobile Ventures' primary areas of interest include Edge Computing, Future of Work, Security, and Industrial IoT. The fund is part of T-Mobile US, which merged with MetroPCS in 2013 to provide nationwide service in major markets but spottier coverage elsewhere. T-Mobile US spent aggressively on low-frequency spectrum, which has substantially expanded its geographic footprint and produced rapid customer growth. With the Sprint acquisition, T-Mobile now serves 71 million postpaid and 21 million prepaid phone customers, equal to around 30% of the U.S. retail wireless market, and also provides wholesale service to resellers.