Goldman Sachs to launch its first VC fund

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New York--Global investment banking juggernaut Goldman Sachs & Co. will launch a $285 million venture capital fund to invest in business-to-business technology companies in Japan. This marks the first time that Goldman, which has a reputation on Wall Street for often being the first to spot impending booming markets, has started a venture capital fund in its 130-year history. Goldman will be teaming up with Kyocera Corp., a Tokyo-based electronics company, in forming the fund. Goldman's move comes as the red-hot Asian b-to-b e-commerce marketplace is becoming increasingly infiltrated by U.S. giants, including Citigroup and PricewaterhouseCoopers L.L.P., both based in New York.
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