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May 31, 2007
i5's Looking For Some Good Tech Teams To Back
Austria's getting a boost from its newly wealthy tech founders eager to invest in their money in illiquid early stage ventures instead of something more liquid like champagne. Startups recently launched by experienced founders include Red Monitor, Nanoident, and Fatfoogoo, while the founders of iNode who cashed out to UPC Telekabel are turning their hands to investing.
Now Tornado Insider is reporting that Markus Wagner (pictured nearby), who founded Xidris back in 1999, merged it with 3united, and sold it to Versign for €55M last year, has started up an incubator called i5invest.
The i5 website says its looking for "great business ideas".
We'd be more excited about the news if the focus was wider - at the moment i5 is looking for B2C and Weberific teams, and so are a lot of other moneymen and women, from media types to angels to VCs.
We are craving some TLAs, some high-tech wizardry, some geeks solving nasty technical problems. Enough of that. Back to the news, with a quote from Tornado Insider's report:
. i5 stands for "innovate, inspire, incubate, invest, internationalize" and the firm will invest mainly in European business-to-consumer Web 2.0 projects and aims to bring them from concept to maturity on an international level.
i5invest has already announced its first investment in the Austrian company Avaloop, which has developed a 3D online game world for multifaceted communication and social networking called Papermint.
Read - Austrian Funding Avalanche (tornado insider weekly)
Posted on May 31, 2007 06:12 PM | Posted to News And Updates | Permalink
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