Secondary direct investor Cipio Partners has bought a portfolio of venture capital investments from Siemens, the German electrical engineering and electronics group, for an undisclosed sum.
Siemens had used this fund to make investments in late-stage technology companies that make semiconductors, optical components and communications equipment in North America and Israel.
The sale follows Siemens’ restructuring of its communications business, which included the merger of its networks arm with Nokia’s equivalent division to form Nokia Siemens Networks.
Siemens Venture Capital has invested over €700 million in more than 100 start-up companies and 35 venture capital funds.
Cipio’s portfolio includes Infineon Technologies, DaimlerChrysler Group, Deutsche Telekom and WestLB.