Deutsche Telekom is to set up a new €500m venture capital fund.
Led by Vicente Vento and and Thorsten Langheim, Deutsche Telekom Capital Partners (DTCP) will focus on investing in German startups and will make private equity investments in existing companies.
T-Venture, the old established in 1998, will be closed to new investments but the team will remain on board and continue to manage the existing portfolio of around 100 companies. It will also retain responsibility for follow-up investments within this portfolio while new investments will be executed through DTCP, which will also advise Deutsche Telekom on existing investments in Strato, Interactive Media, Scout, Deutsche Telekom Innovation Pool (TIP) and T-Venture.
DTCP will launch in early 2015.