Brainspark and Royal & Sun Alliance’s Global Ventures unit have formed a strategic relationship in order to explore ‘innovative new business models in the field of technology and financial services.’
The latest Initiative Europe focus report says that private capital is increasingly being raised for investment in European technology companies despite turbulence in the world’s public markets.
nCoTec will offer the software company both financial and operational support.
IBM will provide technical support, geared specially to start-ups, for bmp AG and its associated companies.
The fund will focus on investments in Poland, Hungary and other Central European countries.
A final closing of the fund is expected to take place next year.