Reuters.- Thomson Reuters Corp will launch a $ 100 million venture capital fund to invest in early stage companies serving professional audiences in the legal, tax, accounting and media business.
The fund, called “Thomson Reuters Ventures,” is part of CEO Steve Hasker’s plan to transform the professional news and information provider into what he calls a “content-driven technology business.”
The fund will focus on companies in its Series A and Series B investment rounds.
Thomson Reuters wants to identify companies that can help “deliver more value” to their customers, whether it’s machine learning for better prediction or automation for greater efficiency, said Pat Wilburn, chief strategy officer at Thomson Reuters.
Wilburn will serve as CEO of the fund.
Thomson Reuters said in August that at the end of the second quarter there was $ 700 million remaining from a $ 2 billion M&A budget.
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The company said it had a “strong” portfolio of goals in areas such as automation and small and medium-sized cloud and software-based services companies.
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