Accel Partners has started a $100 million fund to support start-ups that are developing technologies that allow companies to analyse big data.
The venture capital firm, which will announcethe fund at the Hadoop World Conference in New York, hopes to establish itself as one of the first companies to invest in the emerging big data analysis market.
Big data analysis is a fancy term given to the technology which allows large enterprises and governments to manage and analyse data they have to deal with on a daily basis.
According to an articleon the Wall Street Journal, the fund, called the Accel Big Data Fund, is taking the money from some of the Accel funds which have recently closed including the Accel XI, which had $485 million when it closed in June and the Accel Growth Fund II which also closed in June at $875 million.
“Consumer companies (like Facebook) are very visible and we’re happy to be in those, but there’s a real undercurrent of picks-and-shovels innovation and how you harness all the data that’s being generated,” said Accel Partner, Ping Li.
“We’ve all read articles about these new types of data that are unstructured and breaking the traditional data platforms…We’ve all grown to love them at Oracle, but they’re not built for the big data world,” he added.Leave a comment on this article