- NTTVC has announced the launch of the NTTVC venture firm with a $500 million fund. These are the details.
NTTVC has announced the launch of the NTTVC venture firm with a $500 million fund. With this fund, the venture firm will help startups reach a rapid global scale by utilizing the power of partnership.
The independent venture capital firm was launched by entrepreneur and investor Vab Goel in collaboration with global technology service provider NTT. And the firm is also announcing investments in five startups that are delivering impactful innovations for businesses and consumers: Celona, Eko, nference, Shoreline and UDP Labs.
NTTVC is investing broadly across all stages and sectors with an emphasis on the future of enterprise, digital health, and innovations powered by AI, machine learning, and data. And by combining the deep relationships of its investment team with the reach of NTT, the firm offers access to a robust network of industry experts, customers, entrepreneurs, business leaders, system integrators, and service providers who can help startups make better decisions, more quickly.
NTT is a $109 billion top 5 global technology service provider that serves 75 million mobile subscribers, 3 million businesses, and 120,000 enterprise customers with a local presence in over 80 countries. And the company has a long history of embracing startups and helping them achieve global scale.
The NTTVC team has collectively founded, advised, scaled, and invested in over a hundred startups. And their drive for supporting entrepreneurs stems from their direct experiences as founders and venture capitalists.
Before founding NTTVC, Goel was a Partner at Norwest Venture Partners for 19 years and helped build many of the foundational technologies of today’s Internet as an entrepreneur, venture capitalist, and technologist. And partner Fay Hazaveh Costa worked closely with Goel at Norwest Venture Partners and previously helped launch Hewlett Packard Enterprise’s venture group. Mike Koenig, Portfolio Development Partner, is a seasoned sales and business development leader who was an early executive at two startups backed by Goel. Koenig is supporting NTTVC portfolio companies through impactful connections with the firm’s network.
KEY QUOTES:
“We are still in the early innings of a digital transformation that is affecting every industry and creating unprecedented opportunities for startups. We are passionate about teaming up with entrepreneurs through every phase of their journey to build impactful companies.”
— Vab Goel
“Our mission is to use technology for good to solve social challenges for people, clients and communities. We have always believed that the startup ecosystem is essential to delivering on that promise, which is why we chose to partner with NTTVC to fuel the next generation of world-changing technologies.”
— Jun Sawada, President and CEO of NTT Corporation
“NTTVC offers entrepreneurs the best of both worlds: an independent and agile investment model coupled with the unique access to our global network. This powerful combination gives startups a true competitive advantage in scaling and realizing their vision.”
— Fay Hazaveh Costa
