Establishing its brand in a lot more overseas businesses, Cisco announced a venture capital initiative targeting the tech sector in Central and Eastern Europe, according to a company statement.
The news release says that Cisco will be making the anchor investment in the the Technology in central and Eastern Europe SICAR fund, which will initially close at 30 million euros.
Cisco is pinning high hopes on growth in countries that it has targeted in its emerging markets business. It has already injected more than $2 billion in venture capital investments in China, India, Israel and Europe. Success is crucial here, particularly as sales from its top 25 U.S. customers are in decline.
Also, check out Cisco’s ambitions in Africa.
Further reading:
Cisco posts 37 percent growth in profits for 1Q
Cisco to spend $16B in China over next five years
Cisco expands in India with WiPro alliance
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