ShoZu Backer TLcom Readies New Euro VC Fund

London-based tech and telecom VC house TLcom Capital has closed the first part of its latest fund. The TLcom II fund's cash pot will reach 150 million euros ($222 million) though this stage involves 50 million euros ($74 million). European Investment Fund, Access Capital Partners, the Lombardy public development agency Finlombarda Gestioni and IDeA Alternative Investments have invested in the fund. TLcom's portfolio from its 138 million euro TLcom I fund includes mobile photo sharing service ShoZu, Finnish mobile/web messaging platform iobox and several wireless data operators. The new fund will seek "revenue-stage companies across Europe", will aim to give to between 12 and 15 companies and will close the second stage later this year.

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