Singapore-based Synexia Ventures is a joint venture between corporate VC arm NTT Docomo Ventures and leasing and finance unit NTT Finance.
Two subsidiaries of Japanese telecommunications firm NTT are joining forces to launch a corporate venture capital fund that will invest in Southeast Asian startups.
NTT Docomo Ventures, the long-standing CVC arm of mobile network operator NTT Docomo, will launch Synexia Ventures together with leasing and financial services provider NTT Finance in mid-December.
Synexia will be based in Singapore and will target startups developing technologies that align with NTT’s strategic priorities, such as artificial intelligence, robotics, drones, internet-of-things and smart cities technology. Although NTT’s primary business is telecoms, it also has dedicated data and cybersecurity subsidiaries.
The fund is being headed by Kuan Hsu (pictured), a general partner at Singaporean VC firm KK Fund, who will carry on in a dual role, working with NTT Docomo Ventures and NTT Finance’s existing investment teams.
“My hope is that Synexia (Synergy in Asia!) can contribute meaningfully to this incredible Southeast Asian startup community,” Hsu said in a LinkedIn post this week.
“This isn’t just about deploying capital, but about fostering genuine partnerships between the region’s innovators and NTT’s ~1,000 group companies.”
The move builds on substantial experience in CVC deals for the units. NTT Docomo Ventures was launched in 2013 and has since built a portfolio of more than 100 startups in addition to over 50 exits, while NTT Finance has backed a total of more than 130 companies over a 20-year period.
