Dentsu creates IT fund

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Dentsu, Tokyo, set up a $28.6 million fund to invest in information technology venture companies and support in-house entrepreneurs. Dai-Ichi Kangyo Bank Group and the Industrial Bank of Japan Group will serve as partners in the venture, to be called The fund will invest in local and foreign IT companies operating in Japan, and provide funding to help Dentsu employees launch IT ventures. Dentsu and other major companies have been fighting a tough battle to retain their own best IT talent.

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