Inside money, markets, and Big Tech

This article was published on February 12, 2008


    Telefónica will invest €40m in technology companies

    Telefónica will invest €40m in technology companies
    Ernst-Jan Pfauth
    Story by

    Ernst-Jan Pfauth

    Ernst-Jan Pfauth is the former Editor in Chief of Internet at NRC Handelsblad, as well as an acclaimed technology author and columnist. He a Ernst-Jan Pfauth is the former Editor in Chief of Internet at NRC Handelsblad, as well as an acclaimed technology author and columnist. He also served as The Next Web’s blog’s first blogger and Editor in Chief, back in 2008. At De Correspondent, Ernst-Jan serves as publisher, fostering the expansion of the platform.

    A week ago I reported that start-ups had a hard time seducing European venture capital firms to invest in their companies. The VC’s are backing the fewest companies on record since research group VentureSource began tracking investments in 1999.

    telefonica
    Telefónica office in Madrid

    After this disappointing conclusion, it may well be time for positive news about European venture capital. Well here you go: the Financial Times reports that Telefónica, the Spanish mobile operator, will on Monday announce a €40m venture capital fund to invest in new technology companies.

    This move by Telefónica is part of their strategy to increase the accessibility to new technologies for mobile phones and the Internet.

    Telefónica is one of the largest fixed-line and mobile telecommunications companies in the world. They’re second in terms of number of clients and in the top five in market value. The only companies that are doing better job globally are China Mobile, AT&T and Vodafone.

    [WebTipr: David Petherick, United Kingdom]