NTT DoCoMo Inc. has signed an agreement with Gobi Fund II L.P., a venture capital fund operated by Gobi Partners Inc. Under the agreement, NTT DoCoMo will invest $10 million (approximately 1.2 billion yen) in the Fund.
The Fund will target cutting-edge venture companies in China working on the convergence of telecommunications, media and technology within the IT and digital media sectors. Investment activities will begin this month.
Through its involvement with the Fund, NTT DoCoMo expects not only to earn a reasonable return on its investment, but also to learn more about opportunities for establishing businesses and forming technical tie-ups in telecom-related sectors of China's highly promising economy.
DoCoMo's decision to enter the Gobi Fund II has been prompted in part by the successful performance of its investment in the Gobi Fund I in December 2003.
The new Fund is targeting a final close of $120 million. It will operate for ten years.
NTT DoCoMo
