Hi Sig! Looks like 2000 is on track! :)Leigh
news.cnet.com.
Dell's Ventures arm plans to invest $750 million
By Reuters
Special to CNET News.com
March 31, 2000, 9:15 a.m. PT
SYDNEY, Australia--Priming the development of Internet technologies means Dell Computer will double its investment in its Dell Ventures arm over the next year, chairman Michael Dell said today.
"We invest today in about 90 different companies. We have invested about $750 million, and over the course of next year we will invest at least that much again,' Dell told reporters.
"Our focus is on things that enable Internet infrastructure. We can't do everything, and this gives the ability to have a broad reach," Dell said, noting that his company receives about 1,000 business plans a week from capital seekers.
The company said yesterday it was expanding the focus of Dell Ventures, which will now provide equity investments and consulting services for early-stage companies in the hope that Dell can win early access to breakthrough products and services.
Dell added that business spending was recovering nicely after a Y2K-induced lull in capital expenditures.
"We are expecting that Dell will have another record year. The year got off to a very solid start. It was clear that in the latter part of 1999 and early 2000 we had this Y2K (slowdown) and that seemed to have gradually gone away and we seem to be back in fully fledged business activity," he said.
Story Copyright ¸ 2000 Reuters Limited. All rights reserve
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