Reed Elsevier is to launch a £70m venture fund which will take stakes in emerging technology and internet companies. With Diana Noble as managing director, Reed Elsevier Ventures will focus on later stage and pre-IPO companies, primarily in the US and Europe, in key strategic sectors for the company, including:
Technology such as navigation tools, digital rights management, performance enhancement or increased mobility, which could allow the content to be delivered in a more relevant, speedy, convenient or richer format.
Horizontal markets or tools applicable across all Reed Elsevier’s vertical markets, such as e-marketing or recruitment tools.
Vertical product enhancements which give customers improved functionality in key sectors for the company including: legal, science/medical, construction, entertainment, manufacturing, electronics and retail.
Noble commented: “I am extremely excited by the opportunity to develop a corporate venturing model at Reed Elsevier. This should be a magnet for emerging companies with best of breed technologies and workplace applications.”
The newly appointed managing director is a venture capitalist with a background in funding a range of businesses including fast-growth new media and technology companies. Crispin Davis, CEO of Reed Elsevier, said he was “delighted” to have attracted someone of her calibre and hoped she would give the activity “higher profile and focus.”
Reed Elsevier: 020 7222 8420
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