Next47 is an independent, global venture firmbacked by Siemens AG. Created in 2016, our missionis to empower the world's most forward-thinking entrepreneurs to fuel the industries of tomorrow. We do this through a new approach that combines capital with hands-on business development capabilities that help our portfolio companies grow revenue through the Siemens ecosystem. Next47 has offices in Bangalore, Beijing, Munich, Berlin, Palo Alto, Paris, Stockholm and Tel Aviv. In addition, we benefit from Siemens' global footprint, with offices and relationships in more than 200 countries and regions around the world.
First and foremost, Next47's goal is to be among the best venture capital firms in the world. Our $ 1.2billionfund is backed by Siemens, but we operate independently in order to move at the pace of the start-ups we want to partner with. Our company is about more than capital: Wehave built a world-class business development organization whose missionitis to help our portfolio companies grow revenue by working with enterprises and government organizations around the world. In the past year, Next47 has closed more than 30 deals and generated over $ 75 million in revenue for our portfolio companies. Find out more about how Next47 acceleratesrevenue growth for our portfolio athttps: //next47.com/success-stories/.Finally, we are working closely with Siemens on intrapreneurialism and new business creation. In late 2018, we launched the Next47 Accelerator in partnership with Alchemist. The purpose of this program is to identify and nurture big, breakthrough ideas within Siemens with the goal of creating new business opportunities for the company.
Next47 works with start-ups that are using deep and frontier technologies such as artificial intelligence, augmented and virtual reality, cybersecurity, autonomous driving, IoT, robotics, and advanced manufacturing to solve themost difficult and fundamental industry challenges.
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