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Dell Ventures launches $300m Strategic Innovation Venture Fund

13 Dec 2013

Hot on the heels of its recent private equity takeover, Dell is to launch a new $300m venture capital fund to target sectors including storage, cloud computing, big data, data centres, security and mobility.

Dell Ventures managing director Jim Lussier told Reuters that the Strategic Innovation Venture Fund will invest at all stages, though specifically targeting B-rounds and beyond.

Lussier previously spent a decade as a general partner at Norwest Venture Partners, a global venture capital firm based in Silicon Valley. Before that, he managed the High Tech Strategy practice for Accenture.

Last year the corporate venturing group launched its $60m Dell Fluid Data Storage Fund, aimed at finding the “next big thing” in digital storage.

In September company founder and CEO Michael Dell and private equity firm Silver Lake finally secured shareholder approval for their $24.4bn take-private offer.

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