Yet2.com and JAIC make first VC investment
yet2.com, a US-based digital marketplace that both buys and sells technology online, has formed yet2Ventures. The fund aims to help Fortune 500 companies and other owners of venture capital investments drive value in their portfolio companies.
As for the initial investment out of yet2Ventures, the group has injected an undisclosed sum in Avantis Medical Systems of Sunnyvale, California with Japan Asia Investment Co., Ltd. a Japanese venture capital pioneer known as JAIC. Avantis Medical develops and manufactures catheter-based endoscopic devices for detecting and treating cancer in the gastro-intestinal tract.
yet2.com was founded in 1999 with original investments from Venrock Capital, Procter & Gamble, DuPont, Honeywell, Caterpillar, NTT Leasing, Bayer and Siemens raising over $24 million.
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