NTT Group Establishes Its First Southeast Asia Startup Investment Vehicle, “Synexia Ventures” — Fostering New Business Creation within the NTT Group through a Dedicated Investment Function Focused on Southeast Asia —

NTT DOCOMO Ventures, Inc. (Head Office: Minato-ku, Tokyo; President and CEO & CCO: Yuko Sasahara; hereinafter “NDV”) ^※1 and NTT Finance Corporation (Head Office: Minato-ku, Tokyo; President: Shozo Ito; hereinafter “NTT Finance”) will jointly establish a new investment vehicle, Synexia Ventures Pte. Ltd. (Head Office: Singapore; hereinafter “Synexia Ventures”), aimed at strengthening collaboration with promising startups in Southeast Asia. The investment vehicle will be established on December 15, 2025.

Synexia Ventures will serve as an investment vehicle established to reinforce NTT Group’s business development in Southeast Asia. The investment vehicle will target startups in countries such as Singapore, Indonesia, Malaysia, and the Philippines, focusing on fields including AI, IoT, smart cities, robotics, and drones—areas that align with the NTT Group’s strategic priorities. Synexia Ventures will be jointly managed by Kuan Hsu (General Partner of KK Fund), along with NDV and NTT Finance. Kuan Hsu will lead on-the-ground operations in Southeast Asia, leveraging his deep VC experience in the region while working closely with NDV and NTT Finance’s investment teams.

Southeast Asia, comprising 11 countries and a population of approximately 700 million people^※2, represents a vast and rapidly growing market. While the region continues to experience remarkable economic growth, it also faces numerous social challenges, prompting the rise of many startups seeking innovative solutions. For Japanese companies, Southeast Asia is increasingly transforming from a manufacturing base into a hub for innovation creation.

Since 2017, NTT Group has promoted collaboration with Southeast Asian startups through the “NTT Com Startup Challenge,” organized by NTT DOCOMO BUSINESS, Inc. (formerly NTT Communications Corporation). In response to the strong momentum for new business creation among NTT Group companies in Southeast Asia, the program was expanded in 2024 to encompass the entire NTT Group^※3 and evolved into the “NTT Startup Challenge,” the Group’s first joint initiative^※4.

The newly established Synexia Ventures aims to further strengthen these Group-wide initiatives by establishing an investment platform specialized in Southeast Asia, thereby accelerating NTT Group’s collaboration with local startups and fostering new business creation in the region.

On November 11, 2025, at the “NTT Startup Challenge Pitch Day” to be held in Jakarta, Indonesia, approximately 1,200 startups from across Asia interested in collaborating with NTT Group have applied, making it the largest pitch contest in Southeast Asia organized by a Japanese company^※5. Ten startups selected from among the applicants will present their businesses and collaboration proposals with NTT Group. At the event, the establishment of Synexia Ventures will be officially announced to the Southeast Asian startup ecosystem.

NDV and NTT Finance will promote the NTT Group’s business development in Southeast Asia and the creation of new value through open innovation by leveraging this new investment vehicle.

※1 NDV will participate in the establishment through its managed fund, NTT Investment Partners Fund IV Limited Partnership.
※2 Source: IMF (International Monetary Fund), 2024 Population (Millions of people) in Southeast Asia: 685.75M
※3 In FY2025, the following 13 NTT Group companies are participating: NTT East, NTT West Group (NTT West, NTT Field Techno, etc.), NTT DATA, NTT DOCOMO Global, NTT DOCOMO BUSINESS, NTT DOCOMO SOLUTIONS, NTT Advanced Technology, NTT TechnoCross, NTT Precision Medicine, NTT DOCOMO Ventures, NTT Finance, and NTTVC.
※4 Reference: NTT Group Expands “NTT Startup Challenge” for Second Consecutive Year ~Aiming to Foster New Business Ventures Through Startup Partnerships in Southeast Asia~ (https://group.ntt/en/newsrelease/2025/05/19/250519a.html)
※5 Based on NTT internal research.

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Appendix

Overview of “Synexia Ventures”

Fund Name	Synexia Ventures Pte. Ltd.
Date of Establishment	December 15, 2025
Location	Singapore
Co-Managers	• NTT Investment Partners Fund IV Limited Partnership (Operated by NTT DOCOMO Ventures, Inc.) • NTT Finance Corporation • Kuan Hsu
Investment Focus	Startups in Southeast Asia expected to collaborate with NTT Group companies

Investment Vehicle Logo

About NTT DOCOMO Ventures, Inc.

NTT DOCOMO Ventures, Inc. is the corporate venture capital arm of the NTT Group, aiming to create impactful innovations that “change the landscape of the world” by combining the creative execution of startups with the social implementation capabilities of the NTT Group. Since its establishment in 2008, NDV has managed seven funds with a total committed capital exceeding JPY 105 billion. Serving as the NTT Group’s gateway to open innovation, NDV drives the creation of new value through investments in and co-creation with promising startups in Japan and around the world.
https://www.nttdocomo-v.com/en/

About NTT Finance Corporation

NTT Finance Corporation serves as a comprehensive payment and financial platform provider, developing a diverse range of businesses centered on payment and finance, including billing, credit card, accounting, group finance, and venture capital operations. In its venture capital activities, the company leverages the financial expertise it has accumulated as the NTT Group’s core financial institution and its nearly 30 years of investment experience to identify and invest in promising startups in Japan and abroad with technologies highly synergistic with the NTT Group. As the Group’s corporate venture capital entity, NTT Finance contributes to solving social issues and realizing a sustainable future through strategic startup investments.
https://www.ntt-finance.co.jp/eng/

Co-Manager Profile

Kuan Hsu

Kuan Hsu started his career in management consulting with McKinsey & Co. in the US, then focused on supply chain management in the US and China while at Solectron, an Electronics Manufacturing Services provider. He obtained an MBA/MA joint degree from the University of Pennsylvania Wharton School and became an investment banker in the US with Goldman Sachs executing M&A deals in the Technology, Media and Telecommunications sector. Kuan subsequently moved to Singapore, executing PE deals at Temasek throughout the region prior to becoming a venture capitalist responsible for GREE Ventures’ Southeast Asian operations. He has since launched KK Fund, focusing on early stage internet and mobile investments in Southeast Asia, Hong Kong and Taiwan.