Alcatel Sponsors Venture Capital Fund Based in Silicon Valley; Hi-Tech Venture Capital Fund Backed by Alcatel to Focus on Internet and Telecoms Opportunities Around the World.Business &Technology Editors PARIS--(BUSINESS WIRE)--Jan. 20, 2000 Alcatel today announced the formation of Alcatel Ventures Fund I Limited Partnership, an information technology venture capital partnership, investing primarily in Internet and related high technology emerging and &uot;start-up&uot; companies in the US and in other high growth countries. Steve Y. Kim, previously CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Alcatel's Internetworking business unit and founder of Xylan xylan /xy·lan/ (zi´lan) any of a group of pentosans composed of xylose residues; major structural constituents of wood, straw, and bran. , a company acquired by Alcatel in 1999, will be the Fund's Managing Partner and Managing Director. He will be joined by Victor J. Lee, also a co-founder and Partner, who was formerly at BT Ventures, the venture capital division of Bankers Trust The Bankers Trust is a historic American banking organisation that was acquired by Deutsche Bank in 1998. It was originally set up when banks could not perform trust company services. . Alcatel Ventures will be a limited partnership company and it is planned to have an eventual target fund of $150 million. Alcatel, as the largest and majority limited partner, will be the lead investor. The Fund's general investment strategy will be to maximize returns through both leveraging established operations and in new start-ups, focusing on telecommunications, software, technology services and the Internet. Companies within the portfolio of the Fund will also be able to explore synergies with Alcatel. &uot;Alcatel has a diversified strategy to developing and fostering new technologies - a vital part of our business and a proven track record in internally developing leading edge technologies like ADSL See DSL. ADSL - Asymmetric Digital Subscriber Line and optical products&uot;, said Serge Tchuruk Serge Tchurukdichian (born November 13, 1937), known as Serge Tchuruk, is a French businessman of Armenian descent. He was the Chief Executive Officer and chairman of Alcatel (a global telecommunications company) till the end of November 2006 and is now the chairman of , Chairman and CEO of Alcatel. &uot;This new investment vehicle widens our ability to acquire critical technologies quickly and to ensure that we have a finger on the pulse of the latest telecoms developments.&uot; &uot;In a fast changing world this Fund will provide an opportunity for the next generation of technology companies to get the backing they need from experienced and well resourced companies like Alcatel&uot; said Steve Kim Steve Kim (born April 16 1977[1]) is a Korean-American hip hop artist who is a member of the Korean hip-hop group Uptown. He is also known by the alias Kwon. He was also one half of the now defunct hip-hop duo Uptown 3000. . &uot;I am very excited about the opportunity to promote the 'Silicon Valley' business model around the world and to continue working with Alcatel in bringing future technologies to the market.&uot; The Fund will focus on opportunities in the West Coast of the United States The "West Coast", "Western Seaboard", or "Pacific Seaboard" are terms for the westernmost coastal states of the Western United States, comprising most often California, Oregon and Washington. and further afield, especially in Europe, Israel and Korea. For start-up companies the Fund can add significant value beyond just providing capital. The Fund will actively help portfolios companies in the development of their strategy and help build and strengthen the management teams, provide operational experience, venture capital expertise and broad business networks. Alcatel Ventures will be based in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and has offices in Menlo Park Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , CA and Seoul, Korea. About Alcatel Alcatel builds next generation networks, delivering integrated end-to-end voice and data communications solutions to established and new carriers, as well as enterprises and consumers worldwide. With 120,000 employees and sales of EURO 21.3 billion ($25 billion), Alcatel operates in more than 130 countries. |
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