NTT DoCoMo Inc. invests $10 million in the BVI company operated Gobi Fund II
NTT DoCoMo Inc. announced that it has signed an agreement with Gobi Fund II L.P., under which it will invest $10 million in the fund.
Gobi Fund II L.P. is a venture capital fund operated by the BVI company Gobi Partners Inc. - a company incorporated in 2002 and having offices in the British Virgin Islands, Beijing, Hong Kong and Shanghai. The BVI company and the Fund are operated by Thomas G. Tsao, Wai Kit Lau and Lawrence Tse.
The Gobi Fund will target venture companies in China working on the convergence of telecommunications, media and technology, within the IT and digital media sectors. The Fund will start investment activities already this month, and will operate for ten years. It is targeting a final close of $120 million.
DoCoMo said that its decision to enter into agreement with the Gobi Fund II was partially prompted by the successful performance of its investment in the Gobi Fund I in December 2003.