Texas Instruments Inc has formed a venture capital partnership with the investment banker and high-tech venture capital funds manager Hambrecht & Quist LLC, which is in process of going public in the US. The new fund will invest in emerging digital information and communications companies. Texas Instruments will be providing up to $30m in funding and act as a sole limited partner in the fund, which is to be called TI Ventures LP. A limited liability company to be formed by principals of Hambrecht & Quist will manage the fund as a the general partner. The primary focus of the fund will be start-up multimedia companies that are involved in integrated technology such as digital video. In general, it will seek companies that are involved in the collection, delivery, processing, and display of broadband digital information, Texas said. Adobe Systems Inc beat Texas to the punch: it formed a similar Adobe Ventures fund, again in partnership with Hambrecht & Quist, two years ago.
