US-listed industrial conglomerate General Electric (GE) has set up a software venturing unit and hired Mike Dolbec to manage the fund.
The software investments are designed to avoid being what GE’s chief executive, Jeffrey Immelt, called at the launch event in San Francisco “stupid money” trying to make large returns but instead about making connections and learning between industrial applications and software and analytics.
In a report published ahead of the launch, GE said the combination of internet connections and…
