Mubasher: Cisco Systems Inc. is reportedly launching a new and independent venture fund for early-stage startups.
The venture fund will be independent of the mother company, sources told the Wall Street Journal (WSJ).
"The Silicon Valley company, which historically has invested from its cash reserves, plans to be the anchor limited-partner investor in the new venture fund and invest hundreds of millions of dollars in the next crop of enterprise startups," the WSJ report, citing the sources as saying.
The fund, which has yet to get a name, will be led by Jon Sakoda, who had been in charge of venture firm New Enterprise Associates after 12 years, the WSJ said.
Additional limited partners are likely to invest in the fund, the sources added.
The fund will centre around on early-stage startups and investments, including seed opportunities.
Cisco's investment team already comprises over 40 people. For the past 20 years, the tech firm has invest at least $2 billion from its balance sheet in over 100 startups, making it one of the more active corporate venture arms.