Siemens sets up consolidated corporate venture organisation

01 October 2001

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Siemens is integrating all corporate venture activities of its various business groups into a new Siemens Venture Capital (SVC) organization headed by Bjoern Christensen. Up to now Siemens has had a central venture capital organisation headed by Dirk Lupberger and individual venture capital units within various business groups. The integration of the individual corporate venture activities will enable Siemens to make more efficient use of available resources and will provide greater transparency of all corporate venture activities. In addition, the combined competences and expertise will create greater value and better support to customers, portfolio companies and co-investors. The SVC Fund is divided into funds for individual business segments and focuses its investment activities on the following areas of the Siemens AG business portfolio: information and communication, automation and control, medical solutions and power as well as in two additional funds, one for direct investments in technologies which are applicable to more than one business group, and one for investments in venture capital funds. SVC is headquartered in Munich and has offices based in the US and is also represented in Tel Aviv; Siemens currently has investments in more than 70 start-up companies and 25 venture capital funds. To ensure continuity in all corporate venture activities, Lupberger will actively support the integration process as managing director of SVC before taking on new responsibilities within Siemens towards the end of 2001. Prior to assuming his new job, Christensen held the position of president and CEO of Mustang Ventures, the venture capital arm for the information and communication networks and mobile groups. Before that he was responsible for business development in the public communications group of Siemens.