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TORONTO - Thomson Reuters (NYSE:TRI), the global content and technology firm with a market capitalization of approximately $79 billion, has announced the creation of a new $150 million Corporate Venture Capital Fund, named Thomson Reuters Ventures. This initiative, which follows the company’s initial $100 million fund launched in 2021, aims to bolster innovation and deliver enhanced value to customers by investing in early-stage technology companies. According to InvestingPro data, the company maintains strong financial health with a "GREAT" overall score, positioning it well for strategic investments.
Thomson Reuters Ventures will concentrate its efforts on sectors such as Legal Technology, Tax & Accounting, Fintech, Risk Fraud & Compliance, and News & Media markets. The fund is part of the company’s broader "Build, Partner, Buy" strategy, which seeks to maintain Thomson Reuters’ leadership position by investing in businesses that are at the forefront of professional technology advancements.
Tamara Steffens, Managing Director of Thomson Reuters Ventures, emphasized the fund’s role in the company’s innovation strategy, stating that the increased investment capacity would allow for greater support of companies driving change. The fund’s investment strategy will prioritize financial discipline and focus on technologies that address key challenges for professionals, particularly in harnessing the potential of General AI.
Thomson Reuters Ventures has a track record of successful investments, with 23 ventures funded through its first initiative. A notable triumph includes the acquisition of Materia, an agentic AI company, which has since contributed to enhancing Thomson Reuters’ AI offerings for professionals in tax, audit, and accounting.
The new fund will target Series A investment rounds but remains open to exploring opportunities at different stages. Steffens highlighted the dual focus on financial returns and fostering innovation aligned with customer needs and market demands. Collaborations with visionary founders are seen as essential for scaling transformative solutions and reinforcing Thomson Reuters’ position in the market.
The announcement is based on a press release statement from Thomson Reuters, which has a history of providing specialized software, insights, and trusted journalism to professionals across various sectors. The company’s products are designed to support informed decision-making and promote justice, truth, and transparency. For investors seeking deeper insights into Thomson Reuters’ performance and potential, InvestingPro offers comprehensive analysis including 14+ additional ProTips and detailed financial metrics in its Pro Research Report, available as part of the subscription.
In other recent news, Thomson Reuters has acquired SafeSend, a cloud-native technology provider, for $600 million. This strategic move is set to enhance the company’s offerings for tax and accounting professionals by integrating SafeSend’s automated solutions into their workflow. SafeSend, recognized for automating the final stages of tax return processes, has a significant presence in the industry with a client base that includes 70% of the top 500 accounting firms in the U.S.
The acquisition is part of Thomson Reuters’ vision of advancing workflow efficiencies for tax preparers and taxpayers across the United States. The company intends to keep SafeSend as a standalone solution within its tax software ecosystem.
Co-founders of SafeSend, Steve Dusablon and Andrew Hatfield, shared their excitement for the new opportunities that the partnership with Thomson Reuters will bring, especially in terms of accelerating product development. The acquisition is expected to generate approximately $60 million in revenue for SafeSend in 2025, with a projected growth rate exceeding 25% annually in subsequent years. These are recent developments in the company’s ongoing efforts to meet the dynamic demands of businesses they serve in the tax landscape.
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