Good news for mobile, cloud, and big data startups: A newly established venture-capital group focused on those sectors just got some more money to invest.
Wing Venture Partners has brought in $12.9 million, according to a fresh filing submitted to the Securities and Exchange Commission. That’s on top of the $111 million fund Wing announced in July.
The filing, under the name Wing Strategic Partners, L.P., refers to a “side-by-side fund that was formed to go along with our fund that was formed earlier this year,” Hilary Strain, Wing’s chief financial officer, told VentureBeat during a brief phone call.
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The news could mean Wing, based in Menlo Park, Calif., has the capacity to invest in at least one additional startup. A press release announcing Wing’s launch stated that the firm will typically pump $8 million to $10 million into each portfolio company.
Gaurav Garg, a former partner at Sequoia Capital, and Peter Wagner, a former managing partner at Accel Partners, founded Wing.
They want to back companies focused on cloud computing, mobile, or data. They’ve already funded data-center networking startup Cumulus Networks, big-data analytics player Platfora, security vendor FireEye (which recently went public with a stunning successful IPO), and hybrid-storage provider Nimble Storage, among others.
Wagner and Garg declined to comment on the new fund.
Peter Wagner, General Partner, Accel Partners
Peter Wagner has worked in technology since the mid-1980's as a physicist, line manager and venture investor. He focuses primarily in Information Technology Infrastructure, including the ... read more »
Gaurav Garg serves on a number of private company boards including Ruckus Wireless, Jasper Wireless, FireEye, MobileIron, Shape Security, and Instart. He was a board member at Netscaler (acquired by Citrix), and was deeply involved wit... read more »
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