Amadeus holds $75m first close for latest Digital Prosperity VC fund


microchip5_sq1Technology investor Amadeus Capital Partners has held a $75m first close for its Amadeus IV Digital Prosperity Fund.

The fund will invest in late-stage venture and growth companies developing online and mobile applications and services aimed at the rapidly-expanding middle classes in Africa, the Middle East, Asia and Latin America.

Johannesburg-headquartered mobile operator MTN Group has acted as a cornerstone investor in the latest fund, which is the first of Amadeus’ fourth-generation vehicles.

The firm already has more than 20 portfolio companies with customers in Asia, Africa and Latin America, including Cambridge Broadband Networks, Edgeware, Celltick and ip.access.

Amadeus CEO Anne Glover said, “This fund builds on our sixteen years of experience in investing in the telecommunications market, but with a new focus on a key driver of technology adoption – mobile usage by the increasingly affluent segments of developing economies.

“We are delighted to have found in MTN a corporate partner who is knowledgeable, well-connected and at the forefront of innovation in developing markets and we look forward to this partnership attracting the best entrepreneurs in the space, to create globally successful businesses.”

Amadeus has raised more than £550m for investments since it was launched in 1997.

Major businesses built by the firm include single chip bluetooth radio maker CSR, genetic analysis systems business  Solexa and optical networking business Transmode.

Copyright ©2013 AltAssets