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.
