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Sun Microsystems Adds $200 Million to Venture Fund

Sun Microsystems Inc. Tuesday tacked on an additional $200 million to its venture fund and announced plans to expand its focus to the Middle East, Europe and Asia.

First seeded with $200 million last October, the fund will continue to collaborate with leading venture firms and investment banks to identify companies around the world innovating in the development of Internet infrastructure and network services. Sun said it would extend the boundaries of its venture fund role by cultivating, shaping and developing global investment opportunities.

To date, Sun (SUNW) has invested in more than 15 companies including recent investments in DoveBid Inc., a leader in Webcast and online B2B capital asset auctions. Sun closed five more investments in privately-held firms Tuesday: Beatnik Inc., Graviton Inc., Icarian Inc., Resonate Inc. and XACCT Technologies.

In addition to the venture fund, Sun helps emerging companies through a complete set of programs known as the iForce Initiative, a program that provides customers with the relationships and expertise to streamline their dot-coms.

"Having committed our initial $200 million pool, we're seeing opportunities around the world that warrant a broadening of our funding base and geographic focus," declared Jonathan Schwartz, vice president of venture and strategic investments at Sun. "Looking forward, we're committed to driving innovation wherever it's happening and leveraging Sun's technology and market presence to amplify the success of next generation firms around the globe."