T-Venture sells port folio of 15 companies to Cipio Partners and changes strategy

12 October 2004

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On 10 September 2004, Cipio Partners acquired a portfolio of 15 direct investments from T-Venture Holding GmbH. Cipio Partners is an international private equity investment firm focused on the acquisition and management of direct investment portfolios in the secondary market. The portfolio sold comprises investments in leading international technology, media and telecommunications enterprises such VPIsystems Inc (US), NEXNET GmbH (Germany) and Ipanema Technologies SA (France).After the sale, T-Venture Holding GmbH has announced a change of strategy with regard to its venture capital business. Whereas to date the corporate venture company has concentrated on investments from a budget of E200m made available by Deutsche Telekom, it will now be pursuing a new business model. In future, the shareholdings will be financed directly via separate fund subsidiaries of the business units in the strategic growth areas of broadband/fixed network (T-Com, T-Online), mobile communications (T-Mobile) and business customers (T-Systems). A sum of E310m has now been made available to T-Venture, which specializes in financing start-ups and expansion initiatives as a means of supporting young, fast-growing companies. Some E40m of this amount have already been invested. 'In the wake of the change in strategy, our role has been transformed', said Dr. Thomas. KÃ¼hr, CEO of T-Venture Holding GmbH. 'Prior to this, we were investors and managers. Today, we operate as a management company of the venture funds of T Mobile, T Online, T-Systems and T-Com, which invest directly in the target companies. This allows us to focus much closer on our core business.' Furthermore, the T-Corporate Venture Fund contributes other direct and indirect fund investments such as the shareholding in TeleSoft from the US.