Here is a nice story on corporate venture capital wave 2.0. Companies like Micron Technology and Sprint Nextel have launched venture capital arms – not with an intention to make a quick buck in which they failed during 2000 dotbust days – but in a strategy to further their own long-term goals. Micron Ventures, formed in January, will invest up to $100 million over the next ten years in early-stage start-ups.
Sprint Nextel’s new venture arm Sprint Ventures, also formed last January, plans to make up to six investments by the end of this year. Sprint Ventures General Manager Scott Ford said the fund already closed one deal in a consumer-related wireless start-up. He said hus fund “is investing to further the parent company’s strategic goals – including better delivery of mobile phone content to its customers – rather than in the interest of turning a profit.” Besides, Vodafone is also keenly looking at investing in web 2.0 start-ups, while SAP has just formed a $125 million fund.
Related:
–Sprint Nextel Forms VC Unit
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