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Dell Ventures targets new wave of digital storage with $60m fund

18 Jul 2012

Computer giant Dell has launched a $60m early-stage investment fund aimed at finding the “next big thing” in digital storage.

Dell said its Fluid Data Storage Fund will invest between $3m and $5m in five to ten storage startups, with the aim of taking equity positions within the companies.

A statement from the company said, “We are looking to change the economics of the storage industry by doing two things – bringing high-end enterprise features to the broad mid-market and solving enterprise problems at a midrange price point.

“Our storage investments will align to these tenets that we see as key to the future of storage.”

It added, “While we are showing a strong commitment to our storage investment beginning with an initial fund of up to $60 million, we will be responsible stewards of our financial assets, ensuring that we carefully assess returns against inherent risks of early stage startups.”

The announcement came hours after a fellow tech giant’s venture arm aimed its investing power at cloud computing company Egnyte.

Google Ventures helped close a $16m Series C round alongside existing investors Kleiner Perkins Caufield & Byers and Polaris.

Egnyte said it would use the funding to expand sales and marketing efforts as well as further the development of hybrid cloud and next generation cloud technologies.

Google Ventures partner Karim Faris will join the board of Egnyte as part of the deal.

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