Telefónica launches €300m network of VC funds
Telefónica Digital Venture Capital, the venture subsidiary of Spanish telecommunications firm Telefónica, has launched a €300m network of venture capital funds named Amérigo.
The public-private network will bring together industrial partners and investors looking to back high-growth technology companies around the world. Amérigo launches with around €300m on its books provided by its affiliated venture capital funds. The recently-launched VC arm of Telefónica will invest €68m over the next five years.
A particular focus will be given to high-growth areas such as Latin America where the venture capital industry is not yet mature. Spain, Colombia, Chile and Brazil will be the first target countries.
The launch follows the final closing of Active Venture Partners' second fund on €54m. The fund was renamed Amerigo Innvierte Spain Ventures FCR at the final closing.
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