Telecom Italia is putting up about $70m for a growth-stage fund with a $175m targeted close that will be managed by VC firm United Ventures.

Italy-based venture capital firm United Ventures has formed a growth fund with telecommunications firm Telecom Italia (TIM) with a targeted close of €150m ($175m). TIM is providing approximately $70m in capital for UV T-Growth through corporate venturing unit TIM Ventures. The fund will invest in late-stage domestic and international developers of innovative technology, especially in…

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