Dell Ventures, the $300 million venture fund arm of technology giant Dell Inc, plans to invest in the new-age disruptive startups in India as it eyes a bigger push in the Asian markets, according to a report in The Economic Times.
The company is expected to make an official announcement on the same shortly, the report added.
The fund will primarily support startups which are building disruptive solutions with newer technologies such as cloud computing, security and analytics, and also startups that have moved beyond the early stage. The company is also open to forming strategic partnerships with such companies.
Dell’s proposed investment plan comes at a time when global companies like Chinese e-commerce giant Alibaba Holdings, Japan’s Softbank and e-tailer Amazon are already pumping in billions of dollars in the robust Indian startup ecosystem.
Recently, Alibaba invested an undisclosed amount in the Indian payments processor and marketplace Paytm. Softbank has invested in Indian companies including online marketplace Snapdeal and cab-hailing app Ola. Amazon plans to invest a whopping $5 billion dolllar in India’s surging internet market, while SoftBank plans to invest $10 billion in online ventures in India over the next few years.
Founded in 1999, Dell Ventures finances private later-stage technology companies in the sectors including servers, storage, and related I/O technologies, network infrastructure and management, enterprise software, and security and services.