NTT DoCoMo is opening up a second venture capital arm in the US.
Japan's largest mobile company will open a new venture capital subsidiary, called DoCoMo Capital, in San Jose, California. It will officially open 1 July and focus on investing in mainly US-based companies developing advanced mobile technologies. The company will invest about $100 million over 10 years, said a spokesman.
Its focus will be on R&D which NTT hopes will shorten technology development times and lower its research and development costs.
The new unit is the carrier's second major venture capital subsidiary in the US. In 1996, it established DCM Investments in Boston which targets telecommunication-related companies and venture funds.
NTT DoCoMo opened a Japanese venture capital unit in 1999. In late 2003, it invested $10 million into a venture fund jointly operated with Gobi Partners that looked at mainly China-based high-tech companies.
In addition, NTT DoCoMo has recently been putting money into ventures in Thailand including a $1.9 million investment in digital mapping provider MappointAsia and about $546,000 in location-based service provider Mobile Innovation.
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