Technology 

Venture capital firm uses AI to seek out start-ups across Europe

LONDON (Reuters) – A London-based venture capital firm that uses artificial intelligence to find promising start-ups across Europe said on Tuesday it had raised 53 million euros (£46.6 million) for its biggest fund to date. InReach Ventures was founded by Roberto Bonanzinga and John Mesrie, both previously at Balderton Capital, and Ben Smith, formerly at Microsoft’s teamworking tool Yammer. InReach has spent three years developing its own proprietary AI technology to discover, evaluate and support its investments. Bonanzinga said European start-ups were scattered across the continent, meaning that many early…

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Technology 

Venture capital firm uses AI to seek out start-ups across Europe

LONDON (Reuters) – A London-based venture capital firm that uses artificial intelligence to find promising start-ups across Europe said on Tuesday it had raised 53 million euros (£46.6 million) for its biggest fund to date. InReach Ventures was founded by Roberto Bonanzinga and John Mesrie, both previously at Balderton Capital, and Ben Smith, formerly at Microsoft’s teamworking tool Yammer. InReach has spent three years developing its own proprietary AI technology to discover, evaluate and support its investments. Bonanzinga said European start-ups were scattered across the continent, meaning that many early…

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Technology 

Searchlight Capital offers up to $133 million for control in Bezeq Tel

JERUSALEM (Reuters) – U.S. private investment firm Searchlight Capital Partners has offered up to 485 million shekels ($133.3 million) for a controlling stake in the parent of Bezeq Israel Telecom, according to a regulatory filing. Internet Gold has been searching for a buyer for its majority stake in B Communications since mid-2018 under pressure from bondholders. BCom’s single asset is a 26.34 percent controlling stake in Bezeq, Israel’s largest telecoms group. Internet Gold said on Sunday it received an offer from Searchlight to buy its 19.4 million BCom shares for…

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Technology 

Sorrell’s S4 Capital seeks more deals in digital-only drive

MUNICH (Reuters) – Martin Sorrell is on the lookout for acquisitions to expand his new advertising venture S4 Capital, aiming to capitalize on the disruption sweeping the industry by pursuing a pure-play digital strategy. FILE PHOTO: Sir Martin Sorrell attends a conference at the Cannes Lions International Festival of Creativity, in Cannes, France, June 22, 2018. REUTERS/Eric Gaillard/File Photo Sorrell, who was ousted from WPP last April after three decades building it into the world’s largest advertising holding company, started again with the purchase of S4 as a shell and…

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Top stories 

Premiership Rugby: Minority shareholding sold to CVC Capital Partners for £200m

Players like Lima Sopoaga and Maro Itoje make the Premiership an enticing investment, but a hike in salaries is not expected Premiership Rugby has moved into a “new era” after a deal was concluded for private equity firm CVC Capital Partners to invest £200m. CVC have bought a minority shareholding, understood to be about 27%, after member clubs had previously rejected an offer to buy 51%. “This is a landmark new partnership,” Premiership Rugby chairman Ian Ritchie said of the deal. “It is positive news for the league, the clubs…

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Lifestyle 

China struggles to shed reputation as global capital of art copies

SHENZHEN, China (Reuters) – Ma Chunyan’s hands appear to hold Vincent Van Gogh’s swirling dreamscape vision of the night sky, the painter’s iconic work “The Starry Night”. But the 32-year old Chinese artist is actually handling a 1,000 yuan ($145) reproduction she made in one day from an image on her cell phone, not Van Gogh’s masterpiece that is estimated to be worth over $100 million. Ma is one of 8,000 painters creating copies of Western art in Dafen, a tiny but densely populated district in the southern Chinese boomtown…

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Technology 

Uber launches bus-booking service in Egyptian capital

CAIRO (Reuters) – Uber Technologies Inc has launched a bus-booking service in Cairo, the company’s chief executive said on his first visit to Egypt on Tuesday, as the company aims to tap a sprawling low-income market. The company also announced a new Uber Lite app that, from early next year, will allow users with basic Android phones and little connectivity to book trips in the Middle East. “There are millions of people in Egypt and around the world who still face real barriers to using Uber,” CEO Dara Khosrowshahi said,…

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Technology 

Spanish capital bans three electric scooter operators

A man rides an electric scooter in Madrid, Spain, December 4, 2018. REUTERS/Susana Vera MADRID (Reuters) – Madrid’s city hall on Tuesday ordered three operators to remove their electric scooters from the streets of the Spanish capital within 72 hours, saying they had breached its regulations. The municipality said in a statement that VOI, WIND and Lime had failed to comply with rules that determine which areas the scooters are allowed to operate in. “None of the three companies had properly fixed in their app the areas where their customers…

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Technology 

Bain Capital Ventures closes $1 billion fund amid venture fund-raising frenzy

SAN FRANCISCO (Reuters) – Bain Capital Ventures, the venture capital division of the eponymous Boston-based investment firm, said it has raised a new $1 billion fund to invest in startups, adding to a year of big-dollar fund-raising by tech investors. Enrique Salem, managing director at Bain Capital Ventures, in San Francisco, California, U.S., is shown in this 2015 handout photo, provided November 13, 2018. Bain Capital Ventures/Damian Marhefka/Handout via REUTERS Bain Capital Ventures, which has backed LinkedIn and Jet.com, told Reuters that $650 million would go into one fund, about…

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Top stories 

Formula 1: Vietnam capital Hanoi to host country’s first grand prix in 2020

Vietnam will host a Formula 1 grand prix for the first time in 2020. The race will take place around the streets of the capital Hanoi on a 5.565km track. It is the first new addition to the calendar under Liberty Media’s ownership of the sport. “Since we became involved in this sport in 2017, we have talked about developing new destination cities to broaden the appeal of Formula 1,” said F1 chief executive Chase Carey. “The Vietnamese Grand Prix is a realisation of that ambition.” It will be the…

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