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International venture firms team up with IBM to source new telecoms technologies

Venture firms 3i, Mayfield and Worldview Technology Partners have teamed up to form the Telecom Venture Coalition, a group that will act as a global corporate venturing arm for IBM.

The Telecom Venture Coalition will, it said in a statement, connect ‘emerging VC portfolio companies with IBM at an early stage in their growth'.

‘This coalition recognises the increasingly global nature of the telecom industry and its demand for sector-specific expertise and international reach,' said Mike Hill of IBM Global Telecommunications Industry. ‘It will work to surface new technologies, speed time to market and ultimately contribute to the growth of the entire industry.'

The coalition hopes to give the portfolio companies it connects to IBM early-stage access to a global corporation, as well as giving IBM the opportunity to access emerging tech companies and innovations.

‘3i has worked closely with IBM's venture unit around the world,' said Martin Gagen, president and CEO of 3i US. ‘TVC's ability to connect customers quickly with emerging technologies and new business represents a fantastic opportunity for everyone involved.'

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