Ericsson launches $300m VC fund
Unsurprisingly, it's interested in mobile Internet ventures
Ericsson, Merrill Lynch, Investor AB and Industrivarden are each pumping $75 million into a new VC fund aimed at investing in mobile Internet companies and technologies. The fund will be called Ericsson Venture Partners.
Looking squarely at Europe and the US, the fund will have a wide focus - anything from networks to services and apps, as long as it's mobile-based. The announcement has come with the usual CEO drivel - the basic premise of which is that these companies want to get in there early, especially since it is the "rapidly growing mobile Internet segment". It will be based in Stockholm or New York and will up and running either this month or next. ®