Reuters is launching a $100 million venture capital fund to invest in early stage companies that serve professional audiences in the media and business industry.
The fund, also known as Thomson Reuters Ventures, is part of the chief executive Steve Hasker's plan to transform the provider of news and information to professionals into what it calls content-driven technology business. The fund will focus on companies at their Series A and Series B investment rounds.
Thomson Reuters wants to identify companies that can help its customers deliver more value to their customers - whether that be machine learning for better prediction or automation for better efficiency, said Pat Wilburn, Chief Strategy Officer of Thomson Reuters.
Wilburn will serve as the executive director of the fund.
Thomson Reuters said in August that at the second quarter $700 million remained to share from $2 billion mergers and acquisition budgets. It said it had a robust pipeline of targets in areas such as automation and small- to middle Cloud-based and software-as - services business.