Telecom Italia is putting up about $70m for a growth-stage fund with a $175m targeted close that will be managed by VC firm United Ventures.
Italy-based venture capital firm United Ventures has formed a growth fund with telecommunications firm Telecom Italia (TIM) with a targeted close of €150m ($175m).
TIM is providing approximately $70m in capital for UV T-Growth through corporate venturing unit TIM Ventures. The fund will invest in late-stage domestic and international developers of innovative technology, especially in areas associated with 5G mobile infrastructure.
Sectors the vehicle will target include cloud services, edge computing, the internet of things, artificial intelligence, cybersecurity, mobile payment,…
