Gearing up for the recovery of the mobile phone sector, Amadeus Capital Partners has announced a first closing on a new seed fund for corporate investors.
Amadeus sows the seeds of success
The Amadeus Mobile Seed Fund will invest in very early stage wireless businesses based in and around Cambridge.
The fund is targeting 10 million and has already raised 3 million from international corporations, including Lucent Venture Partners and TTP Communications at Melbourn.
The idea is to invest in five to eight seed and start-up technology and service businesses, with the aim of creating tomorrow's leading mobile companies.
And judging by what is happening at the moment, there should be some vacancies.
Amadeus II, the firm's 235 million fund raided last year, will invest alongside the new fund, matching what is raised from corporate investors.
Some of the investments will be as low as 50,000 to stimulate new companies.
Anne Glover, Amadeus chief executive, says: 'This fund will allow us to source exceptional opportunities at the earliest stages of their development.'
The firm has recruited Laurence John, former global director of m-commerce with Motorola, to head the new fund.
Amadeus is Hermann Hauser's VC company and this latest move shows he is putting his money where his mouth is. He says Cambridge technology is 'deep' and should not be unduly affected by cyclical recessions in the sector.
Amadeus Capital Partners is a global technology investor. Since 1997, the firm has raised over $1bn for investment and used it to back more than 130 companies. With vast experience and a great network, Amadeus’ team of investors and entrepreneurs share a passion for the transformative power of technology. We invest in consumer services, financial technology, artificial intelligence, cyber security, medical technology, digital healthcare and digital media.