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Dell Announces the Creation of $60M Dell Venture Fund

Today Dell announced the creation of a $60M venture fund for investing in storage companies. The unit will be led by Jim Lussier, ex-partner at Norwest Venture Partners, a reputable Silicon Valley venture firm, and Carter George, Executive Director of Dell Storage Strategy. Approximately 50% of the funds will be used to fund early stage companies, including those that need seed funding. The remaining 50% will be used to maintain ownership levels in subsequent rounds of funding. According to Dell, the $30M to be used for initial funding will likely fund 5 to 10 early stage companies, with $3M to $5M being the sweet spot. Additional venture funds may become available for investments in other segments but for now the announcement covers only storage.

  • Premiered: 07/17/12
  • Author: Arun Taneja
  • Published: Taneja Blog
Topic(s): Dell Jim Lussier Arun Taneja Storage Venture Carter George