Venture capital newcomer Amplify Partners has raised a new fund to invest in technical entrepreneurs building new businesses in the storage, networking, and Internet hardware space.
Amplify announced today that it has closed $49.1 million, with SAP Ventures among its limited partners. The partners will invest $50,000 to $1.5 million in startups and will support entrepreneurs through multiple rounds of funding.
Entrepreneurs in the infrastructure space are spoiled for choice when it comes to funding. The most prestigious venture firms, including Accel Partners, Bessemer Venture Partners, and Sequoia Capital, are active investors in the space, as are small to mid-size funds like Trinity Ventures. In addition, we’ve seen prominent angel investors form targeted funds to invest in enterprise companies; such firms include Data Collective and Costanoa Venture Partners.
Amplify was founded by Sunil Dhaliwal, a former investor at Battery Ventures. Dhaliwal recently brought on David Beyer, the former founder and chief executive of data visualization startup Chartio.com, as a principal.
“Our increased fund size will give us the additional capital to support our growing portfolio while still remaining true to our mission of right-sized investments in early-stage companies,” said Dhaliwal in a statement.