Verizon creates $1.3 billion 4G Venture Forum

An impressive group of investors, led by Verizon, has created a fund to boost the development of next-generation 4G mobile products and services. The 4G Venture Forum‘s participants include Alcatel-Lucent Ventures, Charles River Partners, New Venture Partners, North Bridge Venture Partners, Norwest Venture Partners, and Redpoint Ventures.

The goal of the 4G Venture Forum is, according to a prepared statement, to:

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• Fund new ideas
• Provide development assistance
• Validate the market and test concepts

Verizon, Alcatel-Lucent and Ericsson will support market validation and testing of concepts through both labs and communities.