ADC, Lucent Set Venture Funds3/12/2000 7:00 PM Eastern
New York -- Two cable-equipment vendors have started
venture-capital funds aimed at making investments in the hot Internet and technology
Lucent Technologies said last week that it would start a
second $150 million venture fund within its Lucent Venture Partners subsidiary, investing
in technology and market approaches key to its own research and development.
In addition to fiber optic, data and wireless networking,
the fund will invest in firms developing communications semiconductors and software,
professional services and business-to-business electronic commerce.
Lucent launched Lucent Venture Partners in 1998, with $100
Also last week, ADC Telecommunications Inc., a
Minneapolis-based broadband-equipment supplier, started its own $100 million
venture-capital fund to invest in private companies engaged in developing
ADC Ventures will be managed by Robert Switz, ADC's
senior vice president, chief financial officer and head of business development. The fund
will have offices in Minneapolis; Boston; Mountain View, Calif.; and Herzliya, Israel.