Software giant Oracle Corp. has formed a venture fund of $100 million (US$) to help companies develop e-commerce products and services, using Oracle8iTM software. This could be a golden opportunity for e-commerce software and service developers who need outside investment and marketing muscle to move ahead.
Companies that will be funded by the new Oracle Venture fund may receive special marketing assistance as well as technical support. In addition, fund recipients will be able to leverage Oracle’s worldwide name recognition and sales channels, which are substantial, given Oracle’s standing as the world’s second largest software company.
Oracle is no newcomer to the world of electronic commerce. In fact, the company indicates that, “All of the top ten business-to-consumer e-commerce sites, and nine of the top ten business-to-business e-commerce sites are powered by Oracle technology,” according to executive VP Gary Bloom.
Larry Ellison, Oracle’s well-known chairman and CEO, confirms that Oracle will invest in and work closely with software companies that have the vision to create a next generation of business applications for the Internet.
Specifically, Oracle plans to partner with established venture capital firms to reach development companies that focus on electronic commerce, content management, business intelligence, and other Internet solutions.
Managed by a newly formed group at Oracle, the fund will source, execute and manage equity investments in newly formed companies choosing Oracle as their primary technology platform, as well as more mature companies seeking to develop or re-architect existing products and services based on Oracle technology. The fund will co-invest with established venture capitalists and is currently evaluating investment opportunities.
Additional Company Background
Oracle Corporation positions itself as the world’s leading supplier of software for information management, and the world’s second largest independent software company. The company is based in Redwood Shores, California, with annual revenues in excess of US$8 billion.
For more information on the Oracle Venture Fund, e-mail [email protected]