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De Beers VC Fund moves to Silicon Valley
E6 Ventures, diamond giant De Beers-affiliated venture firm has turned to Silicon Valley in order to find and fund new companies who are making use of synthetic diamonds. It has opened a new office in Santa Clara, Calif., to accelerate its pace of start-up investing and better connect with potential partners.
Silicon Valley, says Susie Wheeler, E6 Ventures managing director, is a "global hub of innovation and R&D, filled with all types of opportunities for partnerships." Wheeler added that - unlike traditional venture funds - E6 Ventures has no target amount of capital to deploy over a set time period. During the past 18 to 24 months it has backed seven companies, investing a total "in the tens of millions," she said.
Although the companies span multiple sectors from life sciences and clean technology to manufacturing, they share one similar facet: They all seek to use synthetic diamonds in new ways. "Our biggest challenge is getting the word out and educating people about what diamonds can do," said Wheeler. Launched in 2008 as the venture wing of De Beers subsidiary Element SixPty. Ltd., E6 Ventures' mission is to back products that are commercially viable and scalable.
Read the full article on www.fis.dowjones.com.
Read the http://eon.businesswire.com/news/eon/20111010005804/en/diamonds/venture-capital/joint-ventures on http://eon.businesswire.com.
