Thomas Reuters Corp is unveiling a $100 million venture capital fund to invest in early-stage companies, which serve professionals, according to a report by Reuters on Thursday.
The fund branded “Thomson Reuters Ventures” is part of CEO Steve Hasker’s plan to revamp the provider of news and information to professionals into what it is called a “content-driven technology.”
The financing program will focus on companies in their Series A and Series B investment phases.
Pat Wilburn, Chief Strategy Officer at Thomas Reuters is looking to identify companies that can help its customers “generate more value” to their customers. Wilburn will oversee the new fund as the executive director.
Thomas Reuters stated in August that at the close of the second quarter, $700 million was still available from a $2 billion mergers and acquisitions budget.
The company indicated that it had a “robust” pipeline of targets in different areas, including automation and small-to-medium cloud-based and software-as-services businesses.