DTCP to scale Korean start-ups into global unicorns
Dec 03, 2019 (Gmt+09:00)
Deutsche Telekom CEO Tim Hoettges visited SK Telecom in June and discussed ways to collaborate in 5G mobile communication services. The two companies agreed to invest in promising 5G Information & Communication Technology (ICT) start-ups and nurture them into unicorn status with a valuation over $1 billion.
Four months later, Deutsche Telekom Capital Partners (DTCP), an investment management firm funded by Deutsche Telekom, SK Telecom and other investors, opened its first Asia office in Seoul. It appointed Seo Dong-il, the co-founder of Oculus, a Facebook subsidiary, as its inaugural country manager.
"Korea is home to the largest pool of highly innovative ICT venture companies in Asia,'' Seo said in a recent interview. "We look forward to supporting their global expansion.''