Lucent Sets Venture Pact With Coller Capital

Communications Today, Jan 4, 2002

Lucent Technologies [LU] and specialist investment manager Coller Capital of London on Thursday formed a venture capital partnership to manage the former Lucent New Ventures Group's (NVG) portfolio of businesses.

The new group will be named New Venture Partners II LP (NVP II).

Lucent sold 80 percent of its equity stake in the NVG portfolio to Coller Capital. The core Lucent NVG team will leave Lucent and move to NVP II to manage the portfolio, and Lucent will retain a 20 percent limited partner's interest in NVP II.

Lucent New Ventures Group served as the venture development vehicle for Lucent, and had its roots in Lucent's research and development arm, Bell Labs.

The portfolio includes such companies as Celiant, the largest supplier of wireless base station amplifiers in the United States, and iBiquity Digital, which develops technology to allow the transformation of AM radio broadcasts to FM audio quality, and FM broadcasts to CD quality.

In addition to retaining a 20 percent interest in the new partnership, Lucent said it will have the opportunity to continue to work with NVP II on future investments. >TK EchoStar Communications [DISH]: Disney-owned [DIS]: Hughes Electronics [GMH]: