Lucent Technologies has created a Venture Capital fund which will invest worldwide in emerging technologies. The fund, called Lucent Venture Partners Inc., will start off with $100 million to invest.
It will concentrate on areas such as wireless, data networking, semiconductors, communications software and professional services.
Rich McGinn, Lucent's CEO, said in a statement that the new fund would give the company insight in the technologies, products and companies developing outside Lucent's walls. The fund will be closely aligned with Lucent Technologies' corporate strategies.
The company hopes to leverage technologies funded by Lucent Venture Partners by means of joint marketing agreements, joint product development efforts, and possibly acquisitions.
The fund will be led by Henry Schacht, who is stepping down as chairman of Lucent Technologies. He is being replaced as chairman by CEO Rich McGinn.
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