DTCP to Open Office in South Korea
• DTCP, a leading technology, media, and telecommunications investment management firm with $1.7 billion of assets under management and advisory, is opening its fourth office that will be located in Seoul.
• The focus of the Seoul office will be to establish the DTCP brand in Asia and further build the company’s global network in the technology and venture capital sectors.
• Dillon Seo, an experienced technologist and entrepreneur, has joined DTCP as South Korea country manager.
Hamburg, Germany / Seoul, South Korea – 04 November 2019 – DTCP today announces it is opening an office in Seoul, South Korea. This will be DTCP’s fourth office worldwide after Hamburg, Silicon Valley, and Tel Aviv, and is a natural step for the investment management firm after closing its second Venture and Growth Fund of $350 million in June of this year. DTCP has hired Dillon Seo, an experienced technologist and one of the earlier Oculus employees, to become country manager.
Since DTCP’s inception, it has invested over $400 million in venture and growth-stage technology companies in Europe, the United States, and Israel. Its latest fund – Venture and Growth Fund II – counts SK Telecom and Deutsche Telekom as limited partner investors and corporate sponsors, amongst other corporate and institutional investors. The opening of the office in Seoul is part of DTCP’s long-term plan to further develop its presence in Asia, and South Korea represents an ideal hub to other Asian markets. The new office will be located in the recently opened Centropolis building in downtown Seoul.
“Opening the office in the heart of Seoul is an exciting step for us. It places us in the middle of one of the world’s most advanced technology ecosystems and establishes a hub for our Asian efforts, making DTCP truly global,” says DTCP CEO and Co-Founder Vicente Vento. “South Korea, with SK Telecom in particular, is spearheading the 5G rollout and we expect many unique opportunities to arise from this.”
“South Korea as well as Japan and China are very promising markets for later stage venture and growth capital, which is the focus of our second fund,” says Jack Young, DTCP Partner and Head of Venture Capital based in Silicon Valley. “As a first step, our presence in Seoul will allow us to build our brand in the region and adapt our investment strategy to the local markets. Our global team will work closely with the Seoul team, and we look forward to the first-hand market insight that will be gained through this expansion.”
DTCP aims to expand its investment strategy into the Asian markets, employing the full technology and investment expertise of its global venture and growth team.
DTCP is an investment management group with USD 1.7 billion of assets under management and advisory from Deutsche Telekom, SK Telecom, and other corporate and institutional investors, and a portfolio of over 60 companies. The group is dedicated to providing venture and growth capital, private equity investments, and advisory services to the technology, media and telecommunications sectors. To learn more about DTCP, visit dtcp.capital or @dtcp_capital on Twitter.
About SK Telecom
SK Telecom is the largest mobile operator in Korea with nearly 50 percent of the market share. As the pioneer of all generations of mobile networks, the company has commercialized the fifth generation (5G) network on December 1, 2018 and announced the first 5G smartphone subscribers on April 3, 2019. With its world’s best 5G, SK Telecom is set to realize the Age of Hyper-Innovation by transforming the way customers work, live and play.
Building on its strength in mobile services, the company is also creating unprecedented value in diverse ICT-related markets including media, security and commerce.
About Deutsche Telekom
DTCP Global Media: Julia Wolters | +49 160 6809906 | firstname.lastname@example.org
Deutsche Telekom Corporate Communications: Nico Göricke | +49 228 181-94334 | email@example.com