Applied Materials Ventures has investment in wireless player M-Stream Inc. The investment is part of a $1.5 million series A funding round that includes Broadcom Corp. In return for the funding, Applied Materials Ventures will have a seat on M-Stream's board of directors.
"We are very pleased to add M-Stream to our portfolio as the first of many international investments," said Julien Nguyen, a general partner at Applied Materials Ventures, in a statement. "All over the world, innovative companies like M-Stream are developing new technologies with global applications. We intend to seek them out. "
As part of this strategy, Applied Materials Ventures recently established a presence in Israel, where the cellular communications company is headquartered. Applied Materials Ventures said it now employs a full-time professional to identify promising investment opportunities in the Israeli technology sector. The firm said it intends to extend its presence to other international markets, as well. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
