In this episode of Ask A VC, Telefonica Digital’s Tracy Isacke joined us in the studio to talk about the telecom giant's venture arm. Isacke, who has led the company’s acquisition of San Francisco-based TokBox in 2012, as well as investments in Joyent, Boku, Addfleet, Expect Labs and Everything.me, talked about why Telefonica started investing in startups, and how much money the firm puts into companies. As she explained, Telefonica invests in startups across the globe and runs an accelerator. Check out the video above for more!