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Cisco Announces Venture Capital Initiative in Central and Eastern Europe
'3TS-Cisco Growth Fund III' to Support Technology and Communications Start-Ups
| Source: Cisco
SAN JOSE, CA--(Marketwire - November 12, 2007) - Cisco® (NASDAQ : CSCO ) today announced a
venture capital initiative targeting the technology industry in Central and
Eastern Europe(1). Cisco will pursue investment opportunities in
technology-related start-ups in the region, both directly as well as
indirectly through a regional venture fund.
In collaboration with 3TS Capital Partners, Cisco is making the anchor
investment in the Technology in Central and Eastern Europe S.C.A. SICAR
fund (to be informally called '3TS-Cisco Growth Fund III'), which will
initially close at 30 million euros. 3TS Capital Partners, one of the
leading private equity and venture capital firms in Central and Eastern
Europe, will seek and manage the fund's investments. The target companies
for the fund primarily include high-growth small and medium-sized companies
in the technology, media, and telecommunications sectors.
"Cisco helps drive entrepreneurship in Central and Eastern Europe through
initiatives such as the Cisco Entrepreneur Institute, as well as through
project financing, leasing programs and, most recently, the venture fund
partnership being announced today. New businesses are a key driver of
growth in emerging economies and of jobs in local communities," said Kaan
Terzioglu, Cisco's vice president for Central and Eastern Europe.
"Countries in the region innovate across a broad range of technologies,
including broadband, wireless, security, and communications technologies.
They also lead in the adoption of VoIP applications, multimedia and gaming,
mobile content, and entertainment delivery. The opportunities in the
region are therefore immense."
To date, Cisco has deployed more than $2 billion in venture capital
investments and has been an active equity investor in major markets such as
China, India, Israel and Europe, in addition to the United States. Through
a combination of direct and indirect funding vehicles, Cisco is a strategic
investor in start-ups and venture funds around the world and focuses on
finding and investing in companies that have innovative technologies and
business models. Cisco has appointed Yoav Samet, head of Israel and
Emerging Europe Corporate Business Development, to lead this important
investment initiative.
"Investing in geographically focused venture funds like the 3TS-Cisco
Growth Fund is another strategic tool in our global investment portfolio
that fuels ICT market growth through investment in the innovation economy,"
said Hilton Romanski, senior director of Global Corporate Business
Development for Cisco. "This strategy will help catalyze and accelerate
tech innovation in Central and Eastern Europe and take technology
investment in the region to the next level."
About the Cisco Entrepreneur Institute
The Cisco Entrepreneur Institute is building on Cisco's 10-year history in
education with the Cisco Networking Academy®. While networking academies
are providing technology skills, the Cisco Entrepreneur Institute is
focusing on entrepreneurial skills. The objective of the institute is to
teach local entrepreneurs the skills needed for running a small- or
medium-sized business (SMB) successfully. The curriculum, based on Cisco's
iExecutive Education Program (iExec), as well as My Own Business, an
educational program developed in the United States and endorsed by the
World Bank, includes strategic and business planning, financing, the
development of venture capital relationships, and the use of information
and communications technology (ICT) to achieve better business results.
Cisco is rolling out Cisco Entrepreneur Institutes across Central and
Eastern Europe, in cooperation with leading educational institutes
operating in the individual countries.
About Cisco Systems
Cisco (NASDAQ : CSCO ) is the worldwide leader in networking that transforms
how people connect, communicate and collaborate. Information about Cisco
can be found at http://www.cisco.com. For ongoing news, please go to
http://newsroom.cisco.com. Cisco equipment in Europe is supplied by Cisco
Systems International BV, a wholly owned subsidiary of Cisco Systems, Inc.
About 3TS Capital Partners
3TS Capital Partners (www.3tscapital.com) is one of the leading private
equity and venture capital firms in Central and Eastern Europe operating in
the whole region through offices in Budapest, Bucharest, Prague, Vienna and
Warsaw. 3TS is the exclusive adviser of funds totaling EUR 200 million
targeting investments in growth sectors including Technology & Telecoms,
Media & Marketing, Services and Environment & Energy. Investors in the
Funds include 3i, Cisco, EBRD, KfW and Sitra among others.
Cisco, the Cisco logo, Cisco Systems and Networking Academy are registered
trademarks or trademarks of Cisco Systems, Inc. and/or its affiliates in
the United States and certain other countries. All other trademarks
mentioned in this document are the property of their respective owners. The
use of the word partner does not imply a partnership relationship between
Cisco and any other company. This document is Cisco Public Information.
(1) Including, but not limited to: Austria, Bulgaria, Czech Republic,
Croatia, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia,
Slovenia, Serbia, Ukraine and Turkey.
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