Euro-Trashed

Softbank backs out of European investments.

Dec 6, 2000

New York -- December 5, 2000 -- VENTUREWIRE --Softbank has stopped investing through two joint ventures aimed at bringing U.S. technology companies to Europe, according to a report in the Wall Street Journal. eVentures U.K., a $50 million fund set up with News Corp.'s epartners, has shut down and its 12 employees have been laid off. Softbank and Vivendi's 500 EUR fund, @visio, which focused on continental Europe, has also stopped making new investments and will concentrate on is portfolio, according to the report. Softbank will continue to make direct early-stage investments in Europe, according to the report. It would be totally unprofessional to point out that the market turned out to be soft, so I won't say that.

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