T-Venture joins with Matáv in Hungary

Deutsche Telekom's corporate venturing unit is joining forces with Matáv, the Hungarian telecoms operator, to launch an investment fund in Q1 of 2002.

Matáv, the Hungarian telecoms operator and T-Venture, the investment unit of Deutsche Telekom, are setting up a venture capital fund together to invest in early stage companies across Europe.

The fund will launch sometime in the first quarter 2002, once T-Venture has settled into its new office at Matáv’s headquarters in Budapest. Neither Matáv nor T-Venture have disclosed the name of the fund nor the size of the fund.

The move marks T-Venture’s first foray into Central and Eastern Europe – a region, and Hungary particular, that the group believes is rich with investment opportunities especially in the technology sector.

T-Venture Holding is the corporate venture arm of Deutsche Telekom. Since 1997, the fim has invested more than E250m in around 60 early stage companies worldwide operating in the telecommunications, IT, multimedia, entertainment and security sectors.