Global Posts Launch Venture Capital Operations
Three of Europe’s largest national postal services are stepping up their venture capital activities as they jostle to retain a leading role in a once plodding old industry. ‘New technologies are creating new business opportunities,’ says Martin Vial, chairman of France’s state-owned postal monopoly, La Poste. ‘If we don’t take part in this business, someone else will.’
Germany’s Deutsche Post AG, privatized last year and listed on the Frankfurt stock market, has already established its own 50 million euro corporate venture capital fund, Deutsche Post Ventures.
And the Netherland’s TPG — formerly known as TNT Post Group — which is also now a publicly traded company, last month committed 100 million euros to a corporate venture fund called LogiSpring, aimed at backing young technology companies in the logistics sector.
