IBM Corp. Friday established a $500 million fund to help finance early-stage Internet companies.
IBM (IBM) will work with venture capital firms to provide their clients with IBM hardware, software and services. The assistance will be earmarked for companies which have already completed one round of financing.
“We recognize that next generation companies have unique requirements and we are committed to delivering flexible, creative financing options that will support their needs and enable them to grow their businesses,” said William Doscas, IBM Global Financing’s vice president of financial products and sales operations.
IBM plans to expand relationships with venture capital firms that invest in Internet companies. It will offer those emerging firms additional funding to expand information technology infrastructure.
Already, IBM provides funding to venture capital firms that work with Internet companies. The computer giant also has an incubator fund which supplies technology and services to early-stage firms.