Ex-Cisco CEO John Chambers jumps into venture capital

John Chambers, the former Cisco CEO who led the network giant for twenty years before retiring in 2015, turns to venture capital.

The self-financing company, JC2 Ventures, will support at least a dozen companies that have the potential to become public, according to a number of media reports. Rooms will focus on areas such as the internet of things, digital communication, security and agriculture.

So far, the company has eight companies in its portfolio, including drone software developer Airware and company for social media management Sprinklr.



As CEO and president of Cisco, Mr. Chambers led the company through the internet bubble and bankruptcy and recession. He left the role of president in December.

Chambers spoke openly about the problems Silicon Valley is facing, including how the lack of IPOs can hamper the growth of jobs. At the end of last year he said he wanted to "change the world" by investing in startups and that he wanted to see at least one interviewed woman for every opening in a startup.

Chambers told CNBC that he believed the tax reform and the reduction of the Republican party's regulations would help start-ups. According to him, changes to the tax code would allow companies to bring money back to the United States. at a tax rate, giving them a greater incentive to make acquisitions.