Deutsche, HP in E24m wireless deal

The venture capital unit of Deutsche Bank and IT group Hewlett-Packard have invested E24m in a UK company developing wireless infrastructure support.

DB Capital Venture Partners, Deutsche Bank’s venture capital unit, and Hewlett-Packard have injected E24m into End2End Holdings, a company developing the IT infrastructure for wireless applications.

This investment is one of the largest European deals made in this sector in the past 12 months. For DB Capital Venture Partners it is the second investment in the company, following on from an initial E1.5m commitment.

The money raised from this latest round will be used to further develop End2End’s wireless network to enable the company to host and manage additional wireless packages for its customers, which include network operators One2One, Sonofon and Telia DK.

DB Capital Venture Partners targets early stage companies in the US, Europe and Israel. It invests up to $25m (€28m) in companies in the technology, telecommunications and healthcare services and devices sectors. It forms a part of DB Capital Partners, which in November 2001 took over control of all of Deutsche Bank’s private equity operations.