Thomson Reuters launches $100 million venture capital fund


FILE PHOTO: The Thomson Reuters logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. REUTERS/Andrew Kelly

(Reuters) - Thomson Reuters Corp is launching a $100 million venture capital fund to invest in early stage companies that serve professional audiences in the legal, tax and accounting, and news media business.

The fund, named "Thomson Reuters Ventures," is part of Chief Executive Steve Hasker's plan to transform the provider of news and information to professionals into what it calls a "content-driven technology business."

The fund will focus on companies in their Series A and Series B investment rounds.

Thomson Reuters wants to identify companies than can help its customers "deliver more value" to their customers - whether that be machine learning for better prediction, or automating for better efficiency, said Pat Wilburn, Chief Strategy Officer at Thomson Reuters.

Wilburn will serve as executive director of the fund.

Thomson Reuters said in August that at the end of the second quarter $700 million remained from a $2 billion mergers and acquisitions budget. It said it had a "robust" pipeline of targets in areas such as automation and small-to-medium cloud-based and software-as-services businesses.

(Reporting by Kenneth Li, Editing by Rosalba O'Brien)

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

   

Next In Tech News

Volkswagen expects chip supply to be challenging at least until end-H1
Meta to ban all Myanmar-army controlled businesses from platforms
VW CEO goes from thrilling investors to making enemies at home
Meta reorganises research department amid scrutiny over findings
Indian billionaire Ambani says 5G rollout should be nation's priority
On the web and on the streets, Covid protests get nasty
How Amazon outage left smart homes not so smart after all
Google disrupts cybercrime web infecting one million devices
Visa launches crypto advisory service for financial institutions, merchants
Bill Gates thinks ‘acute phase’ of pandemic will end in 2022 despite Omicron

Others Also Read


Vouchers