Sierra Ventures courts UK and Nordic partnerships

According to reports in the press, Sierra Ventures, which has $1.2bn under management, is looking to partner with at least one venture capital firm in the UK and another in Scandinavia with the aim of increasing dealflow. According to Tim Guleri, general partner at Sierra Ventures and formerly vice chairman of E.piphany Inc (NASDAQ:EPNY), the move is a reflection of the increasing need for venture capitalists to cooperate more and more, as the US venture capital market has returned to pre-1999 days when building a company took five to seven years. Another factor is the need for global expansion in order to create market leaders. Sierra is looking for European early-stage investors, with a strong track record, a fund in excess of $500m and focusing on wireless, software, semiconductors and internet-related infrastructure.

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