CMGI Unveils Net Venture Fund

CMGI Inc. introduced a venture capital fund of as much as $1 billion to focus on companies that offer Internet technologies and infrastructure. The At Ventures Technology Fund will be headed by managing partner Lior Yahalomi. He joins At Ventures from Gateway Inc., where he was vice president for new ventures and supervised the personal computer maker’s efforts to move into Internet, online access and electronic commerce businesses.

CMGI, based in Andover, Mass., invests in Internet and software companies through several funds with the goal of taking them public or selling them to investors at a profit. It has been adding funds to diversify its holdings in various parts of the Internet industry. It recently introduced a fund focused on business-to-business electronic commerce. CMGI shares fell $7.63 to close at $110.63 on Nasdaq.