NTT DOCOMO has announced the establishment of DOCOMO Innovation Fund IV, L.P. (DI4 Fund) with a fund size of 15 billion yen. Separately, Vietnam-based edtech startup NativeX has halted operations due to a severe cash crunch.
Japan’s NTT DOCOMO launches DOCOMO Innovation Fund IV
NTT DOCOMO, Inc. (DOCOMO) and NTT DOCOMO Ventures, Inc (NDV), together with NTT FINANCE CORPORATION, have announced the establishment of DOCOMO Innovation Fund IV, L.P. (DI4 Fund) with a fund size of 15 billion yen ($96 million).
The new fund targets startups that create new businesses and transform society through open innovation with the NTT DOCOMO Group. It succeeds the DI3 Fund, established in April 2022 with a fund size of 15 billion yen.
Other funds under DOCOMO include the DOCOMO Innovation Fund Partnership (DI Fund) established in February 2013 with a fund size of 10 billion yen and the DOCOMO Innovation Fund II, L.P (DI2 Fund) established in October 2017 with a fund size of 15 billion yen.
The newly established DI4 Fund aims to help NTT DOCOMO Group achieve business growth through open innovation in the 2030s.
“As we continue to invest in startups in Japan and overseas, we will promote the creation of new businesses over the medium to long term through partnerships with NTT DOCOMO Group companies,” DOCOMO said in the announcement.
As with the existing three funds, the DI4 Fund will be managed by NDV.
Going forward, DOCOMO and NDV will continue to accelerate new businesses through investment and co-creation initiatives in promising startups, leading to the resolution of societal issues and the creation of new value.
NativeX ceases operations due to cash crunch
Vietnam-based edtech startup NativeX has halted operations due to a severe cash crunch, per a Tech In Asia report. This development follows NativeX raising $4 million in its seed funding round co-anchored by Ansible Ventures and Blueprint Ventures in 2024.
NativeX said it raised $1.5 million from angel investors through SAFE instruments in June 2023 and an additional $2.5 million from other investors, bringing the round’s total to $4 million.
The startup is an online English learning platform designed for working professionals and has offices in Ho Chi Minh City and Hanoi. Founded in April 2023, it offers live classes taught by experienced foreign teachers.
Other investors on the Vietnamese company’s cap table include Alpha JWC Ventures, Openspace Ventures, Provident Growth, and Patamar Capital.
The edtech company’s founders are Nguyen Dinh Phat, whose LinkedIn profile shows he is a vice president at Northstar; Chau Huy Hoa Ai; Vinh Tran; Trang Ly; and Sandeep Jain.
It acquired intellectual property (IP), including an online platform and mobile app, from local edtech startup Topica after the latter decided to shut down its TOPICA Native programme, which provided online English speech tutoring services, in May 2023.
