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Telefónica launches a venture capital network

Published on Sept. 23, 2012

 
Read Telefónica launches a venture capital network

In September 4th Telefónica announced its participation in a venture capital which will finance technology firms. The Telecommunications Spanish Company has provided 68 million euros in this fund for the next five years.

This private equity network, called Amérigo, is also participated by public partners (for example the Governments of Brazil, Chile, Colombia or Spain) and private investors focused on technology sector worldwide, beyond the main investments receivers as Silicon Valley. Its initial capital reaches 300 million euros, aimed to finance projects valued over one billion.

Through this project Telefónica plans to invest in talent wherever it is, like has done many times before with others schemes such as Wayra (focused on promoting star-ups) or Telefónica Ventures.

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