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Article: City: @chieve: Protege wins $50m for expansion Blue chip investors back virtual management and incubator group as it accelerates growth plans, writes Mary Fagan
- Article from:
- The Sunday Telegraph London
- Article date:
- June 4, 2000
- Author:
CopyrightCopyright 2000 The Sunday Telegraph London. Provided by ProQuest LLC. (Hide copyright information)
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PROTEGE, the pioneering internet incubator company, is poised to
raise about $50m from a group of investors including American
Express, Vulcan, Bridgepoint Capital (formerly NatWest Equity
Partners) and Partech, a US investment company.
The funding will accelerate the development of Protege, which has
so far nurtured some 25 internet companies in Europe, taking a stake
in each one. Last year Global Retail Partners injected $20m into the
group, which now employs 100 people directly and has offices in the
US, Britain, Germany and Australia.
The investment also shows there are still substantial funds
available for high quality internet companies despite the recent
slump in the share prices of ...