Venture company IVS ready to invest major sum in IT companies  

2004.01.20
The Scandinavian venture company has plans to invest DKK 50 million in the IT industry over the next few years

Venture company Internet Ventures Scandinavia (IVS) has plans to invest DKK 50 million (USD 8.3 million) in the IT industry over the next few years. IVS received DKK 40 million (USD 6.6 million) in venture capital from investors including PFA Pension and the Employees Capital Pension Fund during the latter half of 2003. This sum, together with DKK 10 million (USD 1.6 million) from IVS's fund, will be invested in IT companies.

 

IVS has adjusted its investment strategy to include start-up companies. Copenhagen based Octoshape is a newly formed company which recently received DKK 3 million (USD 0.5 million) from IVS. Octoshape has invented a new way of distributing video and sounds via the internet. The fledgling firm was founded by two lecturers from Copenhagen IT University. The news is reported by national daily newspaper Jyllands-Posten.

 

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