Eastven Ericsson Venture Partners

Eastven Venture Partners (EVP), formerly Ericsson Venture Partners, was a corporate venture capital firm founded in 2000-2001 in Darien, Connecticut. Established as the exclusive venture capital vehicle for Ericsson across Europe and North America, the firm managed a $300 million fund focused on communications technology companies. Founding Principals Mark McAndrews — a former COO of Merrill Lynch Global Investment Banking with 25-plus years of financial management experience — and Jeff Low, formerly VP of Strategy and Business Development at Ericsson's Data Networking Division, led the investment activity. EVP made 22 investments across applications, network infrastructure, software, semiconductors, and enabling technology, with checks ranging from $1 million to $4 million at Series A and Series B stages. Portfolio companies included ReefEdge, WatchMark, Dilithium Networks, Atrua Technologies, Photobucket, and RadioFrame Networks, with 6 tracked exits. The firm leveraged deep relationships with Ericsson, Sony-Ericsson, and enterprise clients including Merrill Lynch to provide commercial validation and market access alongside capital. The firm's strategic focus on telecommunications infrastructure and communications software reflected Ericsson's core business interests during the early 2000s, a period of significant consolidation in the global telecom equipment and services market. Eastven Ericsson Venture Partners is now permanently closed and inactive. Its most recent recorded investment dates to February 2009, and the firm's activity wound down as its portfolio matured through the decade following the initial technology cycle.