FILE PHOTO: The logo of Deutsche Telekom AG (dtag) is silhouetted against the sun, and the clouds at the top of the headquarters of German telecommunications giant from Bonn, Germany, February 19, 2019 at the latest. REUTERS/Wolfgang rattay
BERLIN (Reuters) – Deutsche Telekom’s venture-capital arm said on Tuesday it was closing for the second fund to new money after raising $350 million to invest in software and service companies that are feeding the digital transformation.
Corporate sponsors, SK Telecom, Korea as well as the German optics company Zeiss and joined Deutsche Telekom, HarbourVest, Program Bermann and others in the support of the fund, and Deutsche Telekom Capital ners (DTCP) has said.
SK Telecom’s $30 million investment is part of a broader agreement with Deutsche Telekom is to set up a joint venture for the development of technologies and services for next-generation 5G mobile networks, a south Korean company to be separately stated.
DTCP’s a Venture/Growth Fund II, founded last year, has already made five investments. This will include the management of a funding round to be Smooth, which will help in speeding up web page loading and went to recently in New York city.
The fund, which is focused on the so-called Software-as-a-Service (SaaS) providers and cloud-based software with a subscription-pricing, a “land and expand” model, which makes it easy for you to step up from the use of, without a major IT headache, said DTCP is the head of the Company’s Growth, and is the Managing ner, Jack Young.
“From an investor’s perspective, of the enterprise, as a SaaS business, it’s easy, measurable, and predictable,” Young told Reuters, adding that the digital transformation will accelerate, and if the ai is being increasingly used in the software.
DTCP is the first fund set up in the year 2015 is increased to $140 million) from Deutsche Telekom. It has four outputs, the one half of the share capital to the investors and remain invested in nine companies.
A total of DTCP is to manage or advise on $1.7 billion in assets.
Reporting by Douglas Busvine; editing by David Evans and Tony Martin