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New Media Age
August 15, 2002
Investment and consultancy firm Ariadne Capital has shelved plans
to raise a new fund while it focuses on building its reputation.
At the start of the year the company outlined plans to raise E100m
(GBP 64m) to invest in wireless and health companies (NMA 31 January).
At the time it said it was hoping to close the fund this year.
However, although the plans are still on the table, according to
co- founder Julie Meyer, Ariadne is first concentrating on building
up a track record of successful exits before it tries to entice
potential investors. "We've always said we'd raise a fund,
but you have to prove you can exit," she said.
Ariadne has been adding to its management team and two deals are
close to being completed, confirmed Meyer.
"We've been focusing on the consolidation side," she said,
adding that the company wanted to become "a consolidator in
the wireless applications space".
Copyright 2002 Centaur Communications Ltd.
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