Yes, I was thinking that too. This is as far from traditional VC as Y Combinator is, but in the opposite direction. Which seems a further predictor of doom, because the trend in venture funding lately has been a shift toward the low end.
http://www.infoworld.com/article/06/12/21/HNquaero_1.html
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The French and German partners involved in a consortium developing future search technologies, Quaero, went their separate ways because of differences over technology, according to senior officials at the French agency funding the research.
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