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Oracle Launches $100 Million Venture Fund

Aiming to boost outside development of the Oracle8i platform, Oracle Corp. Thursday announced it has created a $100 million venture fund.

Oracle 8i is the database giant's newest platform. It is designed specifically to interface with the Internet and Internet applications.

Companies teaming up with Oracle in the use of Oracle8i will include established venture capital firms to promote Internet products and services such as content management, electronic commerce, business intelligence and other end-to-end Internet solutions.

"The next generation of business applications will be designed for and run on the Internet," said Larry Ellison, Oracle's chairman and chief executive officer. "Oracle plans to invest in and work closely with software companies that share this vision."

A newly-created division at Oracle will oversee the fund and will develop, execute and manage equity investments in new and more established companies that use Oracle as their primary technology platform. The fund will also co-invest with established venture capitalists and is now evaluating investment prospects.