Japan's NTT DoCoMo to set up $125m venture fund
Japanese mobile giant NTT DoCoMo is to set up a venture fund and incubation program targeting mobile business models and technologies.
The JPY10 billion ($125 million) DoCoMo Innovation Fund and DoCoMo Innovation Village incubation program will be launched by March 31.
The fund will invest in a wide range of fields, including the internet, healthcare, finance and media, focusing primarily on Japanese start-ups and early-stage companies that have innovative business models or advanced technologies related to mobility.
Some of the investment targets will come from the incubation program, which provies start-ups with resources such as office space and strategic advisory services.
While DoCoMo already has a VC fund in Silicon Valley, this is the first time it has participated in the asset class domestically. Its parent NTT has two corporate venture funds, while rival group KDDI Corporation set up its own JPY5 billion venture fund in February to invest in internet-related fields.
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