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European telco venture capital up 20% in 2008

Venture and growth capital funding for young European companies in the information, communications and technology sectors rose some 20% in 2008, while buyouts of companies in the sector fell 36%, according to figures released last Thursday by the European Private Equity and Venture Capital Association.

A total EUR1 billion was invested in early-stage funding for 1,000 companies in the sector, with seed capital soaring 71% to EUR112 million as venture capitalists were prepared to finance the research, assessment and development of an initial concept even before the business had been set up. Start-up companies received EUR928 million, up from EUR796 million in 2007.

Meanwhile, growth capital investments, which involves financing for companies looking to expand, restructure or make a significant acquisition, rose 20% to EUR1.4 billion, said EVCA.

However, interest in early-stage venture failed to offset a 36% decline in the amount invested in buyouts in the telecom sector, with overall investment levels falling by nearly a quarter to EUR9.71 billion. Later-stage venture suffered a less steep decline of 18%, bringing overall venture investment down just 4%.

"Information, communication and technology has an important bearing on Europe's competitiveness and the data demonstrate how much private equity and venture capital has to contribute to the European Commission goal of doubling private investment in ICT high growth SMEs [small and medium-sized enterprises] by 2020," said Javier Echarri, EVCA's secretary general.

Источник: Total Telecom

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