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October 10, 1999

Fujitsu Sets Up Internet Investment Fund

By CBR Staff Writer

Fujitsu Ltd is to establish a $30m internet managed investment fund, the WIIG Nikko IT Fund, together with Dai-ichi Mutual Life Insurance Co, Sumitomo Life Insurance Co and Itochu Finance Corp. The fund will be jointly managed by Nikko Capital and Walden International Investment Group, the largest US venture capital firm investing in Asian companies. The managers plan to invest not only in Japanese companies but also in other Asian and US internet-related firms, said Fujitsu. The company hopes to find ventures with advanced internet-related technology with which to link its own technology, as well as potential takeover targets. Several US venture capital firms have recently made investments, or announced their intention to invest, in Japanese internet ventures. They include JH Whitney & Co, Hambrecht & Quist, Patricof & Co and EM Warburg Pincus.

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