Canada-headquartered news and information tools provider Thomson Reuters launched a $100m corporate venturing fund yesterday dubbed Thomson Reuters Ventures which will focus on technology capable of supporting ‘future professionals’.
The unit will make investments in developers of technology which can enhance work in areas such as legal work, tax and accounting, risk management, fraud detection, regulatory compliance, news and media.
Although it has not overseen a dedicated corporate venturing vehicle, Thomson Reuters has made selected early-stage investments over the past decade, in companies including data analysis software provider Tamr and distributed ledger technology developer Axoni.
Thomson Reuters’ chief strategy officer, Pat Wilburn, has been appointed executive director of the unit. He said: “Thomson Reuters Ventures is ultimately about investing in innovation and serving customers.
“Whether it be [artificial intelligence] and machine learning innovations that allow professionals to better predict outcomes, identify and act on trusted information, or automate processes for greater efficiency, the overall goal remains the same.
We are focused on identifying and supporting innovative companies that can help our customers deliver more value to their customers.”
