Streamlined Ventures

Streamlined VC launches to back infrastructure software startups

July 1, 2013: 12:21 PM ET

StreamlinedVCStreamlined Ventures holds a first close on $25 million fund.

FORTUNE -- Ullas Naik has held a first close on his new fund that will invest in seed-stage infrastructure software companies, Fortune has learned. It's called Streamlined Ventures, and is targeting a total of $25 million.

Naik is a former managing director with Globespan Capital Partners, who left the firm last summer after an 11-year run. His deals with Globespan had included BladeLogic (acquired by BMC Software), Revivio (acquired by Semantec) and Copan Systems (acquired by Silicon Graphics).

"On the consumer side we all saw companies getting to dramatic scale with less upfront capital," he explains. "It's now beginning to happen on the infrastructure software side."

Streamlined will begin as a sole proprietorship, although Naik expects to add partners if the firm's debut fund leads to a second (following the were-worn path of VCs like Mike Maples). He also will transfer some of his angel investing portfolio into Streamlined.

According to his LinkedIn profile, Naik's angel deals include: Addepar, Sidecar, Clever, Applovin, inDinero, Visual.ly, GraphDive, Refer.ly, Bina Technologies, SunLink, PubNub, SnapVolumes, Trigger.io, Citus Data, Ginzametrics, iSwifter, Mcube, Nou Data, Rescale, Ark.com, Authy, Delphi Solutions, Everest, Keen.io, Womply and RolePoint. He also is a limited partner in both Bullpen Capital and Umagination Labs.

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  • Is Ullas Naik prepping his own VC fund?

    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 MORE

    - Nov 28, 2012 3:24 PM ET
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