Unilever ponders venture capital move

Unilever is contemplating creating a stand-alone venture capital fund to develop innovative ideas that do not fit into its core food and personal care businesses. The Anglo-Dutch consumer products group, which had a turnover for 2000 in excess of Eur 47.5bn, has recently tried to incubate several potential spin-offs, including a home-cleaning service called myhome and barber shops operating under its Lynx brand. However, these in-house start-ups have enjoyed limited success and the firm has been in talks with private equity houses that could lead to the creation of a fund that would take on the job of nurturing innovations, using a mix of company money and venture capital.

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