The company will invest the cash in 'internet of everything' startups as part of the $1bn investment it plans to make in the next three-to-five years.

US-based networking technology provider Cisco reserved $150m yesterday for venture capital investments in UK-based ‘internet of everything’ startups as part of a $1bn investment initiative in the country.

Cisco, which generally provides early-stage funding through its Cisco Investments unit, will target UK-based companies applying internet-connected technology to smart cities and the retail, healthcare and financial sectors, as well as cybersecurity startups.

The $150m in proposed investments follows Cisco’s establishment in January 2014 of a $100m specialist internet of everything…