Venture Capital: nCoTec Ventures starts up

New venture capital company nCoTec Ventures has been set up by three ex-Salomon Smith Barney investment bankers Alisdair Warren, Lars Lindell and Tim Horlick. nCoTec Ventures is aimed at enabling communications technology – nCoTec for short. nCoTec Ventures has to date raised EURO16 million and aims to complete its first fund raising – targeting EURO150 million – by the summer. The firm is looking to invest in start-up and later stage investments of a strategic nature. Because of the early-stage nature of its investments, nCoTec Ventures has sourced incubator-type services for its investee companies via non exclusive partnership agreements. These agreements are with Arthur Andersen, Linklaters & Alliance, communications service group WPP, technical recruitment agency SkillCapital and Regis, a global provider of flexible leased office space. nCoTec Ventures is also hoping to sign a similar partnership with an industry-specific consulting firm in coming weeks.

The nCoTec Ventures team’s experience in the communications technology field is wide. Tim Horlick has been an investment banker for 17 years, most recently as the head of European technology investment banking at Salomon Smith Barney. He began his career as a chartered accountant at PricewaterhouseCoopers. Alasdair Warren’s most recent role was as managing director and deputy head of European equity capital markets at Salomon Smith Barney, with specific responsibility for IPOs and secondary offerings in the technology sector. Lars Lindell was most recently European telecom equipment analyst at Salomon Smith Barney but has also spent ten years of his career working with wireless data technologies while at Ericsson in Sweden.

nCoTec Ventures is still putting together its advisory board but has so far signed up Ted Beddoes, a former chief technology officer at Vodaphone.