OpenText Unveils Canadian Venture Capital Strategy
WATERLOO, Ontario, Jan. 21, 2014 /CNW/ – OpenText™ (NASDAQ: OTEX, TSX: OTC), the global leader in Enterprise Information Management (EIM) and Canada’s largest software company, today announced it is the lead industry sponsor in a newly created ‘fund of funds’ that will invest in high-potential venture capital fund managers across Canada to seed innovation. The company also expects to close in the next six months with its financial partners, a $100 million OpenText Enterprise Applications Venture Fund to infuse funding directly into creative app development. OpenText announced in November, 2013 its own AppWorks developer platform to dramatically accelerate the time to market for enterprise-grade applications.
