New venture capital fund Amplify Partners raises $49.1M to back IT infrastructure startups in the US
Amplify Partners has secured $49.1 million for its new investment fund, together with its limited partner SAP Ventures. The fund will invest between $50,000 to $1.5 million in storage, networking, and Internet hardware startups, according to VentureBeat.
Silicon Business Journal cited Amplify founder Sunil Dhaliwal saying: "We are pleased that we received such a strong response to our vision of a firm focused on Infrastructure 2.0 and grateful for the support of our outstanding roster of limited partners."
Amplify has already invested in several startups in Bay Area. These startups include big data deployment firm BlueData Software in Mountain View, big data application manager Continuuity in Palo Alto, content distributor Fastly in San Francisco, and large-scale data app builder WibiData which is also in San Francisco, the report detailed.
Dhaliwal is a former Battery Ventures investor. Just recently, he announced that David Beyer has become a principal in Amplify Partners. Beyer is the former chief executive of data visualization firm Chartio.com, VentureBeat reported.