NTT DoCoMo To Set Up JPY10bn Venture Fund

NTT DoCoMo (9437) will establish a JPY 10 billion (USD 126 million) corporate VC fund, Docomo Innovation Fund, for investing in a wide range of fields, including the internet, healthcare, finance and media, by March next year. The firm will also institute a business incubation program. "DoCoMo Innovation Village" will pay development costs and provide office space and other infrastructure to promising projects.

While Docomo already has a VC fund in Silicon Valley,   this is a new effort for Docomo to focus on domestic ventures. Its parent NTT has two corporate venture funds. Its rival KDDI Corp. (9433) set up its own JPY 5 billion venture fund in February to invest in internet-related fields.