Newly private Dell goes public about venture expansion

shutterstock_76313254

shutterstock_76313254Barely a month after going private itself, Dell is scaling up investment in other private companies.

Dell Ventures, the company’s strategic investment arm, announced today that it is rolling out a $300 million Strategic Innovation Venture Fund to invest in early-to-growth-stage companies in areas including storage, cloud computing, big data, next-generation data center, security and mobility. The new fund is much larger than Dell’s last dedicated vehicle, the $60 million Dell Fluid Data Storage Fund, announced last year.

“If anything, [going private] has accelerated our activities,” said Dell Ventures Managing Director Jim Lussier, a former Norwest Venture Partners partner who joined Dell about two years ago.

That’s as expected, he said, as Dell’s decision to go private was largely based on the belief that it would allow the company to execute more quickly on founder Michael Dell’s vision for becoming an end-to-end IT services provider. And most of Dell’s venture investments are in developers of technologies that play a role in that evolution.

The new fund will invest at any stage, though Lussier considers the sweet spot to be Series B, C and D rounds for companies that fit a Dell strategic priority.

This story first appeared in Reuters Venture Capital Journal. Subscribers can read the entire original story here. To subscribe to VCJ, please email Greg.Winterton@ThomsonReuters.com.

Photo: Word illustration of venture capital from Shutterstock.

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