DTCP, a technology, media, and telecommunications investment management firm with USD1.7 billion of assets under management and advisory, is opening its fourth office which will be located in Seoul, South Korea, complementing its Hamburg, Silicon Valley, and Tel Aviv offices.
DTCP has hired Dillon Seo, an experienced technologist and entrepreneur, to become country manager.
Since DTCP’s inception, it has invested over USD400 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.
