NTT Mobile Communications Network Inc (NTT DoCoMo) and several Japanese partners are setting up a new venture capital firm which will invest in mobile computing and the internet. The partners include IBJ Securities Co Ltd, Internet Research Institute Inc and Ikuo Nishioka, former chairman of Intel KK, who will be company president.
The new firm, Mobile Internet Capital Inc, will set up an investment fund with an initial capital of 5bn yen ($48m) and begin making investments next January. Headquartered in Minato Ward, Tokyo, and capitalized at 100 million yen ($940,000), the firm will solicit funds from other private-sector investors, and it will also offer corporate-management guidance to the companies it invests in.
NTT DoCoMo and Internet Research Institute will be charged with the task of evaluating the technologies and potential of would-be recipients for investment. Once an investment is made, IBJ Securities will offer financial-management support to the venture company and advice on going public.
