Careers & Certifications

07:00 PM
Connect Directly
RSS
E-Mail
50%
50%

Wanted: UK Storage Startups

Pentech Ventures has $20M fund for UK tech startups and is keen to invest in next-gen storage

Calling all storage networking startups in the U.K! Penta Capital, a private equity firm based in Glasgow, has announced an early-stage technology fund and is eager to invest in this sector.

The new fund, called Pentech Ventures, is looking to fund U.K.- and Ireland-based companies in the wireless and storage markets. Pentech has raised 12 million (US$17 million) so far and plans to close the fund at between $21.2 million and $28.3 million.

“We will certainly look at a company in the data storage space; it’s one of the hottest segments now,” says Eddy Anderson, director and co-founder of the fund. He adds that they are particularly interested in the software side of the business.

“It’s a great time for us now as the sluggish economy means lots of the VCs in the U.S. are retrenching rather than investing, but there’s still an abundance of good technology companies out there looking for money,” says Anderson. In three days they’ve seen a dozen companies already, many of them coming out of the universities in Scotland. Most of them are wireless plays -- no storage firms yet.

Pentech plans to invest from $250,000 to $1 million across 10 to 12 companies in any one round. But don’t go booking the Caribbean cruise just yet: The criteria for investment are rigorous.

Previous
1 of 3
Next
Comment  | 
Print  | 
More Insights
Slideshows
Cartoon
Audio Interviews
Archived Audio Interviews
Jeremy Schulman, founder of Schprockits, a network automation startup operating in stealth mode, joins us to explore whether networking professionals all need to learn programming in order to remain employed.
White Papers
Register for Network Computing Newsletters
Current Issue
Video
Twitter Feed