NTT DoCoMo invests in China — MobileMonday Global: Industry News

^{Looking for media and telecom convergence} NTT DoCoMo invests in China

16 May 2007 at 21:56 GMT Timo Poropudas

NTT DoCoMo, Inc. said last week that nit had 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 USD 10 million 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.

The Gobi Fund II is targeting a final close of USD 120 million. It will operate for ten years.

Gobi Partners was incorporated in the British Virgin Islands in 2002 and has offices in Beijing, Hong Kong and Shanghai. The Gobi Fund and Gobi Partners are operated by Thomas G. Tsao, Wai Kit Lau and Lawrence Tse.