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Thomson Reuters launches $100 mln venture capital fund

Reporting by Kenneth Li, Editing by Rosalba O'Brien
October 14, 2021 5:34 PM +07

Oct 14 (Reuters) - Thomson Reuters Corp (TRI.TO) is launching a $100 million venture capital fund to invest in early stage companies that serve professional audiences in the legal, tax and accounting, and news media business.

The fund, named "Thomson Reuters Ventures," is part of Chief Executive Steve Hasker's plan to transform the provider of news and information to professionals into what it calls a "content-driven technology business."

The fund will focus on companies in their Series A and Series B investment rounds.

Thomson Reuters wants to identify companies than can help its customers "deliver more value" to their customers - whether that be machine learning for better prediction, or automating for better efficiency, said Pat Wilburn, Chief Strategy Officer at Thomson Reuters.

Wilburn will serve as executive director of the fund.

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Thomson Reuters raises full-year revenue forecast

Reporting by Kenneth Li Editing by Mark Potter
November 2, 2021 5:53 PM +07

Nov 2 (Reuters) - Thomson Reuters Corp (TRI.TO) reported higher quarterly sales on Tuesday and raised its full-year revenue forecast as the news and information company benefited from a recovering global economy.

The parent company of Reuters News said revenues rose 6% to $1.53 billion, compared to expectations of $1.5 billion. Adjusted earnings per share rose to 46 cents.

"The momentum we saw in the first half of the year continued into the third quarter with revenue and sales performance above our expectations and consistent across the business," Thomson Reuters Chief Executive Steve Hasker said in a statement.

Four of five of Thomson Reuters' divisions - Legal Professionals, Tax & Accounting Professionals, Corporates, and Reuters News - showed sales rising 6% on a constant currency basis.

The company now expects full-year revenues to increase 4.5-5.0%, compared with its previous forecast of 4.0-4.5%.

Quarterly operating profit fell 11% compared to the prior year when the company received a "significant" benefit from the revaluation of warrants the company held in Refinitiv.

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