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Is Ullas Naik prepping his own VC fund?

November 28, 2012: 3:24 PM ET

Another veteran VC considers raising a micro-fund.

FORTUNE -- Venture capitalist Ullas Naik this summer quietly stepped down as a managing director with Globespan Capital Partners, after more than 11 years with the firm (including time at its predecessor, JAFCO America Ventures).

Sources tell me that Naik has been talking to folks about raising a $25 million seed-stage fund focused on enterprise start-ups. He also has interest in mobile web, social web and Internet infrastructure software.

Nothing close to formalized yet, with Naik currently doing more listening than talking. He's also making angel investments through a personal platform called Streamlined Ventures, including deals for Referly (social network referral service) and Keen IO (cloud data warehouse and analytics for event data).

While with Globespan, Naik's deals included BladeLogic (acquired by BMC Software), Revivio (acquired by Semantec) and Copan Systems (acquired by Silicon Graphics).

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Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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