IDG launches new European fund

The media company aims to add value through its market research.

International Data Group (IDG), an IT research company, is launching a $100m fund for Europe.

IDG Ventures Europe will focus on information technology companies.

The managing partners will be Ajay Chowdhury, previously CEO of NBC Internet Europe and of LineOne; Kit Gould, previously CEO of IDG UK; and Chris Smart, previously managing director of Cambridge Research and Innovations.

IDG claims it adds value for its portfolio companies through its market research and media assets IDG has $580m under management worldwide, including $200m in two China funds.