Three prominent venture capital (VC) firms have formed the Telecom Venture Coalition (TVC), a group chartered to help facilitate closer working relationships between IBM and VC-led businesses operating in the global telecommunications market.

According to a statement issued by the group, which includes 3i, Mayfield, and Worldview Technology Partners, TVC's goal is “to accelerate customer adoption of new, global communications technologies and next-generation Linux solutions by connecting emerging VC portfolio companies with IBM at an early stage in their growth.”

The group says it plans to “leverage the VC firms' expertise in the international telecom arena, their experience in developing successful international tech businesses, and IBM's global technology leadership.”

“This coalition recognizes the increasingly global nature of the telecom industry and its demand for sector-specific expertise and international reach,” said Mike Hill, General Manager, IBM Global Telecommunications Industry. “It will work to surface innovative new technologies, speed time to market and ultimately contribute to the growth of the entire industry.”

 
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