Venture Capital: March 2008 Archives
T-Mobile Venture Fund today announced that it has made a strategic investment in Ubiquisys, the global leader in 3G femtocells, joining Google and original investors Accel Partners, Atlas Venture and Advent Venture Partners.
Femtocells are small consumer devices the size of a paperback book that connect to the home broadband connection. Mobile users benefit from excellent, high-speed 3G coverage using their existing handset, as well as low-cost voice and data services in the home. Femtocells also allow operators to more effectively bundle mobile and fixed broadband services, and to differentiate themselves by offering a new generation of web 2.0 mobile applications based on home presence and sharing data with the home network.
The Ubiquisys femtocell is currently in mass production with Sony Technium. These units are being used by Ubiquisys’ partners such as Nokia Siemens Networks and NEC, to satisfy operator trials worldwide including T-Mobile. This strategic investment supports the drive towards the first commercial launches, anticipated towards the end of 2008.
A consortium of key players in the evolution of Internet applications and digital media today announced the agreement to create a unique new investment vehicle to seed and grow Web 3.0 innovation in Southern California.
The consortium comprises top Hollywood entertainment company, William Morris Agency (WMA), leading Silicon Valley venture capital firms Accel Partners and Venrock, and global communications leader AT&T. Accel, William Morris Agency and Venrock will form a Joint Fund that will focus on discovering, funding and building small, high-impact companies focused on innovation in the consumer media technology arena. AT&T will participate in selected investment opportunities with the Joint Fund as a Limited Participant.
The Joint Fund will be managed by Los Angeles-area angel investor Richard Wolpert, who has previously served as president of Disney Online and chief strategy officer of RealNetworks.
Combining resources in this fashion is unique in the annals of content investing. By merging the talents of Silicon Valley, Hollywood, and AT&T in an environment conducive to seed incubation, the group will seek to create opportunities for path-breaking new Web companies to be born.
“This alliance is a great example of bringing the best minds together to help foster the growth and development of media technology in our local economy,” said Los Angeles Mayor Antonio Villaraigosa. “My hope is that initiatives such as these continue to not only provide new opportunities for our citizens, but also keep Southern California at the forefront of digital innovation.”
