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BERTELSMANN INVESTS IN PRIVATE EQUITY FUND

But Typo In Company Memo Leads Many To Believe In New Fund Of "Private" Ponies
Bertelsmann A.G. announced today that it would invest up to $1 billion in a new private equity fund.

The fund, named eBertelsmann, will be aimed at technology companies in the media industry.

"The new fund will aim to spot trends early and develop or acquire new businesses that are relevant to Bertelsmann," said Bertelsmann Chairman and CEO Thomas Middelhoff in a statement.

Bertelsmann, Europe's largest media company, is not the first company outside the venture capital industry to step up its investments in an effort to increase profit and stay on the cutting edge of developing technology. Two British companies—tech trade publisher United News and Media and marketing conglomerate the WPP Group—also manage venture capital funds.

"Everyone wants to emulate Intel, which has very successfully invested in start-ups that have prospered and therefore grown the market, increasing demand for Intel's products," said Jason Purcell, chief executive at First Stage Capital, a company that introduces private equity firms to young companies.

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