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TELECOM ITALIA LAB INVESTS IN JERUSALEM GLOBAL VENTURES March 2001: Telecom Italia Lab, the Business Unit of Telecom Italia dedicated to Venture Capital and Innovation, has reached an agreement to invest 2 million dollars in NetLaunch, a Venture Capital fund managed by Jerusalem Global Ventures, one of the leading venture capital funds in Israel specialising in the high-tech sector. Telecom Italia Lab will join NetLaunch's group of strategic partners, in advising the fund management team, in locating and evaluating those companies that develop the most advanced solutions in the ICT field, particularly Internet technologies. Jerusalem Global Ventures (JGV) is a leading investor, focusing on Israeli high-tech start-ups with strong potential for development in the market, using to its advantage its expertise in the investment banking field, acquired through its parent group, Jerusalem Global Ltd. The participation in NetLaunch is part of Telecom Italia Lab's strategy to develop a series of strategic alliances with the most important venture capitalists in the market with a strong flair for technological innovation; the Israeli market is of particular interest as it rapidly creates new high-tech companies. "JGV is proud to welcome Telecom Italia Lab to its family of investors. Telecom Italia Lab will join JGV's other strategic partners in advising its portfolio companies currently working on the most advanced solutions in the field of communications-enabling technologies," said Yoni Hashkes, Managing Partner of JGV. "This investment enables us to generate additional value for our portfolio companies. Providing our start-ups with access to one of the key players in the field of communications will play a critical role in their development as leading global companies" he said. Andrea Granelli, Executive Vice President and Head of Telecom Italia Lab, the Venture Capital and Innovation Business Unit of the Telecom Italia Group said, "This partnership is a fundamental step in the development of venture capital activities in regions of particular interest for the development of new companies operating in innovative Internet technology. The Investment in NetLaunch will allow us to operate in close collaboration with one of Israel's leading Venture Capital companies and will enable us to broaden our interests in the country and construct firm industrial synergies with Telecom Italia Group's activities." About Telecom Italia Group: Telecom Italia Group is one of the world's largest telecommunications operators and is the leading telecommunications company in Italy. In addition to traditional telecommunications services, the group offers IT and ISP services, as well as mobile communications. The group's international presence is mainly concentrated in Europe, Latin America and the Mediterranean basin. Telecom Italia Lab is the recently established Business Unit of Telecom Italia for scouting, evaluating, developing and managing new business opportunities. The Unit focuses on R&D, corporate venture capital, incubation and on the development of ICT skills. The corporate venture capital and the incubation activities address all phases of the development of new companies with venture capital investments, business and technological consulting and creating industrial synergies with Telecom Italia Group business. For Further Information: www.telecomitalia.it About Jerusalem Global Ventures: Jerusalem Global Ventures (JGV) is a $200 million group of early stage venture capital funds, focused on telecommunications, Internet-enabling technologies and medical devices. JGV's partners have proven track records in building and managing successful high technology enterprises, and JGV's investors include many of the world's leading hi-tech companies and financial institutions, as well as individual executives from premier companies. Jerusalem Global Ventures has offices in Israel and the United States. Back to Press Releases |
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