NTT DoCoMo has just announced that it will join the Gobi Fund II, a venture capital fund operated by Gobi Partners. The Fund will target companies in China working on the convergence of telecoms, media and technology within the IT and digital media sectors. Investment activities will begin this month. 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.
Through its involvement, 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 China’s telecom-related sectors. Under the agreement, DoCoMo will invest US$10 million in the Fund. The new Fund is targeting a final close of US$120 million and will operate for ten years.