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Eqvitec to work with Telecom Italia

According to a new agreement portfolio companies of Eqvitec Partners, the Finnish early stage technology investor, will gain access to Telecom Italia’s experience and customer base. In exchange, Telecom Italia stands to gain an insight into wireless technologies being developed in Finland, a region it describes as pivotal in the progress of this sector.

The 35 portfolio companies of Eqvitec, which focuses on communications, Internet technology and applied technology, will benefit from Telecom Italia’s telecoms experience and exposure to the company’s customer base in Europe and South America. William Cardwell, a partner at Eqvitec, said: “Co-operation with the companies of the Telecom Italia group will provide our portfolio companies the possibility to access global markets offered by TIM, as well as the infrastructures, applications and services offered by TILAB.”

Cardwell said portfolio companies, such as Digia, which creates personal communication technologies, SecGo, which provides network security solutions, and software company Valimo Wireless, might benefit from opportunities to promote their products to the Telecom Italia group. Eqvitec, which manages funds of around e260 million, already has a similar agreement with IT Provider, a Nordic venture capital advisory firm focused on early stage technology companies.

The co-operation has been agreed between Eqvitec and Telecom Italia Lab, the division of the Italian mobile phone company that develops innovative technology and new business solutions. The deal is part of the company’s strategy to foster closer relations with other companies promoting technological innovation, with a view to increasing its access to new technologies, applications and content. Telecom Italia is working on similar deals elsewhere in Europe, the US, and the Far and Middle East.

Paolo D’Andrea, venture capital manager at Telecom Italia Lab, said: “This agreement, which creates opportunities for joint ventures in the cutting edge of new technologies, is aimed at transferring the technological excellence into innovative solutions proposed by the Telecom Italia Group, and at fully satisfying the requests of the ICT market.” Telecom Italia Lab also makes venture capital investments in the ICT sector, both directly and through participation in funds such as Apax Partners, Gemini Israel Funds and Jerusalem Global Ventures.