# Dell: portfolio, investments and team

> Dell is a growth equity based in United States. 43 investments on record, 1 in the last 12 months, latest Mar 2026. Portfolio, stages, co-investors and team.

Source: https://millionrounds.com/fund/dell (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# Dell

Last cheque observed Mar 2026; 43 cheques on record.

Email

Deploying now Growth equity

Series C Series B Venture Insurance Internet

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Deploying now

**33%** of best year **1** **cheques in 12 months**, 43 on record

Since the last cheque **232** days **00** hrs **00** min **00** sec

Median round **$33M** Rounds led **0 of 43** Exits **15 from the portfolio** Mostly in **United States, 84%**

Pitch Dell

## Dell highlights

- 01 1 cheques in the last 12 months
- 02 Mostly Series C and Series B: 69% of its rounds
- 03 15 exits from the portfolio

## What they do

- **Type:** Growth equity (from a list, unverified)
- **Cheque size:** Not stated
- **Sectors:** Insurance Internet
- **Based in:** St Charles, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **43 appearances**

- **2026** 1 round
- **Mar** **[Nscale](https://millionrounds.com/company/nscale)** Series C · GB · 8090 Industries **$2.0B** With 14 others
- **2025** 2 rounds
- **Oct** **[Nscale](https://millionrounds.com/company/nscale)** Series C · GB · TechStartups **$433M** With 4 others
- **Sept** **[Nscale](https://millionrounds.com/company/nscale)** Series B · GB · Firms' own news pages **$1.1B** With 9 others
- **2018** 6 rounds
- **Oct** **[JFrog](https://millionrounds.com/company/jfrog)** Series D · US · FinSMEs **$165M** With 6 others
- **Aug** **[Twistlock](https://millionrounds.com/company/twistlock)** Series C · US · FinSMEs **$33M** With 4 others
- **Aug** **[Netifi](https://millionrounds.com/company/netifi)** Seed · US · FinSMEs **$2.0M** With 3 others
- **Jul** **Toka** IL · VentureBeat **$13M** With 4 others
- **Jun** **[Jask](https://millionrounds.com/company/jask)** Series B · US · FinSMEs **$25M** With 9 others
- **Apr** **[Nantero](https://millionrounds.com/company/nantero)** US · FinSMEs **$30M** With 4 others
- **2017** 4 rounds
- **Aug** **[Redis Labs](https://millionrounds.com/company/redis-labs)** Series D · US · FinSMEs **$44M** With 1 other
- **Jul** **[Big Switch Networks](https://millionrounds.com/company/big-switch-networks)** US · FinSMEs **$31M** With 8 others
- **Jul** **iguazio** Series B · IL · FinSMEs **$33M** With 5 others
- **Jul** **[Graphcore](https://millionrounds.com/company/graphcore)** Series B · GB · FinSMEs **$30M** With 7 others
- **2016** 2 rounds
- **Dec** **[Formation Data Systems](https://millionrounds.com/company/formation-data-systems)** **$20M** With 14 others
- **Jan** **[Cylance](https://millionrounds.com/company/cylance)** **$100M** With 13 others
- **2015** 4 rounds
- **Jul** **[Cylance](https://millionrounds.com/company/cylance)** Series C · US **$42M** With 5 others
- **May** **[DocuSign](https://millionrounds.com/company/docusign)** Series F · US **$45M** With 1 other
- **May** **[Exablox](https://millionrounds.com/company/exablox)** Series C · US **$7.0M** With 1 other
- **Feb** **[Exablox](https://millionrounds.com/company/exablox)** Series C · US **$16M** With 3 others
- **2014** 3 rounds
- **Aug** **[Nexenta Systems](https://millionrounds.com/company/nexenta-systems)** Series E · US **Undisclosed** With 1 other
- **Aug** **[Lastline](https://millionrounds.com/company/lastline)** Venture · US **$10M** With 3 others
- **Jul** **[Formation Data Systems](https://millionrounds.com/company/formation-data-systems)** Series A · US **$15M** With 5 others
- **2013** 3 rounds
- **Dec** **[Invincea](https://millionrounds.com/company/invincea)** Series C · US **$16M** With 4 others
- **Feb** **[Skyera](https://millionrounds.com/company/skyera)** Series B · US · finsmes.com **$52M** With 1 other
- **Jan** **[Mirantis](https://millionrounds.com/company/mirantis)** Series A · US · techcrunch.com **$10M** With 2 others
- **2009** 1 round
- **Apr** **[Fusion-io](https://millionrounds.com/company/fusion-io)** Series B · US · pehub.com **$48M** With 6 others
- **2008** 1 round
- **Feb** **[NextIO](https://millionrounds.com/company/nextio)** Series C · US · virtualization.com **$19M** With 4 others
- **2004** 1 round
- **Jan** **[Tonic Software](https://millionrounds.com/company/tonic-software)** Series A · US **$4.1M** With 4 others
- **2003** 2 rounds
- **Jan** **[NSI Software](https://millionrounds.com/company/nsi-software)** Series B · US **$15M** With 2 others
- **Jan** **[Counterpane Internet Security](https://millionrounds.com/company/counterpane-internet-security)** Series D · US **$20M** With 6 others
- **2002** 3 rounds
- **Nov** **[2Wire](https://millionrounds.com/company/2wire)** Series E · US **$28M** With 8 others
- **Mar** **[SiRF Technology](https://millionrounds.com/company/sirf-technology)** Series H · US **$20M** With 9 others
- **Feb** **[Mellanox Technologies](https://millionrounds.com/company/mellanox-technologies)** Series C · US **$56M** With 13 others
- **2001** 2 rounds
- **Dec** **[Lane15 Software](https://millionrounds.com/company/lane15-software)** Series B · US **$12M** With 7 others
- **Jan** **[BlueArc](https://millionrounds.com/company/bluearc)** Series C · US **$72M** With 6 others
- **2000** 6 rounds
- **Nov** **[StorageApps](https://millionrounds.com/company/storageapps)** Venture · US **$50M** With 4 others
- **Oct** **[Agility Communications](https://millionrounds.com/company/agility-communications)** Series B · US **$70M** With 8 others
- **Sept** **[Nishan Systems](https://millionrounds.com/company/nishan-systems)** Series C · US **$50M** With 3 others
- **Aug** **[Exterprise](https://millionrounds.com/company/exterprise)** Series C **$24M** With 4 others
- **Jun** **[Livevault](https://millionrounds.com/company/livevault)** Venture · US **$17M** With 5 others

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

We hold **35** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**5+** funds on file numbered funds in its name

## What they claim to have backed

From their own portfolio page (on their website)

**0** of 2 we have independently watched raise

Dell Technologies Capital Find a Partner

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **15 in all**

**[Skyera](https://millionrounds.com/company/skyera)** Bought by [HGST](https://millionrounds.com/fund/western-digital-capital) **Undisclosed** Dec 2014

**[Fusion-io](https://millionrounds.com/company/fusion-io)** Bought by [SanDisk](https://millionrounds.com/fund/sandisk) **$1.1B** Jun 2014

**[BlueArc](https://millionrounds.com/company/bluearc)** Bought by [Hitachi](https://millionrounds.com/fund/hitachi) **Undisclosed** Sept 2011

**[2Wire](https://millionrounds.com/company/2wire)** Bought by [Pace](https://millionrounds.com/fund/pace) **$475M** Jul 2010

**[Counterpane Internet Security](https://millionrounds.com/company/counterpane-internet-security)** Bought by British Telecom Group (BT Group) **Undisclosed** Oct 2006

**[Livevault](https://millionrounds.com/company/livevault)** Bought by [Iron Mountain](https://millionrounds.com/fund/iron-mountain) **Undisclosed** Dec 2005

**[Agility Communications](https://millionrounds.com/company/agility-communications)** Bought by JDSU **Undisclosed** Nov 2005

**[Tonic Software](https://millionrounds.com/company/tonic-software)** Bought by Altiris **Undisclosed** Jan 2005

**[Nishan Systems](https://millionrounds.com/company/nishan-systems)** Bought by [McDATA Corporation](https://millionrounds.com/fund/mcdata-corporation) **Undisclosed** Aug 2003

**[Interliant](https://millionrounds.com/company/interliant)** Bought by Pequot Ventures **Undisclosed** Apr 2003

**[Lane15 Software](https://millionrounds.com/company/lane15-software)** Bought by InfiniSwitch Corporation **Undisclosed** Mar 2003

**[StorageApps](https://millionrounds.com/company/storageapps)** Bought by [Hewlett-Packard](https://millionrounds.com/fund/hewlett-packard) **$350M** Sept 2001

**[Exterprise](https://millionrounds.com/company/exterprise)** Bought by [Commerce One](https://millionrounds.com/fund/commerce-one) **Undisclosed** Mar 2001

**[Equinix](https://millionrounds.com/company/equinix)** Listed **Undisclosed** Aug 2000

**[Sina](https://millionrounds.com/company/sina)** Listed **Undisclosed** Apr 2000

An exit counts when it came after the firm's first round in the company. From historical deal records.

## Companies it bought

Acquisitions by the firm itself

**EMC** **$67B** Oct 2015

**[VMware](https://millionrounds.com/company/vmware)** **Undisclosed** Oct 2015

**StatSoft** **Undisclosed** Mar 2014

**[Enstratius](https://millionrounds.com/company/enstratius)** **Undisclosed** May 2013

**[Kitenga](https://millionrounds.com/company/kitenga)** **Undisclosed** Feb 2013

**[CREDANT Technologies](https://millionrounds.com/company/credant-technologies)** **Undisclosed** Dec 2012

**Gale Technologies** **Undisclosed** Nov 2012

**Quest Software** **$2.4B** Jul 2012

**SonicWALL** **Undisclosed** May 2012

**Make Technologies** **Undisclosed** Apr 2012

**Clerity Solutions** **Undisclosed** Apr 2012

**Wyse Technology** **Undisclosed** Apr 2012

## The cheque

Series C Series B Venture

Median round joined **$33M** the round, not its cheque

Led 0 of 43 rounds **0%**

- **Sole investor:** Never alone
- **Last cheque:** Mar 2026
- **Exits:** 15 from the portfolio

Rounds by stage said on their site

- Series C *13*
- Series B *9*
- Venture *4*
- Series D *3*
- Series A *3*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Intel Capital](https://millionrounds.com/fund/intel-capital) 7
- [Austin Ventures](https://millionrounds.com/fund/austin-ventures) 3
- [BYU Cougar Capital](https://millionrounds.com/fund/byu-cougar-capital) 3
- [Meritech Capital Partners](https://millionrounds.com/fund/meritech-capital-partners) 3
- [NVIDIA](https://millionrounds.com/fund/nvidia) 3
- [Nokia](https://millionrounds.com/fund/nokia) 3

**Pitching Dell?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as Dell. A count of rooms they were both in, not a relationship either has claimed.

[**Intel Capital** Corporate VC **7** rounds together](https://millionrounds.com/fund/intel-capital)[**Austin Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/austin-ventures)[**BYU Cougar Capital** VC firm **3** rounds together](https://millionrounds.com/fund/byu-cougar-capital)[**Meritech Capital Partners** VC firm **3** rounds together](https://millionrounds.com/fund/meritech-capital-partners)[**NVIDIA** Company **3** rounds together](https://millionrounds.com/fund/nvidia)[**Nokia** Corporate VC **3** rounds together](https://millionrounds.com/fund/nokia)[**Pelion Venture Partners** VC firm **3** rounds together](https://millionrounds.com/fund/pelion-venture-partners)[**Ten Eleven Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/ten-eleven-ventures)[**U.S. Venture Partners** VC firm **3** rounds together](https://millionrounds.com/fund/u-s-venture-partners-usvp)[**Accel** VC firm **2** rounds together](https://millionrounds.com/fund/accel)[**Aker ASA** Growth equity **2** rounds together](https://millionrounds.com/fund/aker-asa)[**Battery Ventures** VC firm **2** rounds together](https://millionrounds.com/fund/battery-ventures)

## Recently backed

The latest companies Dell put money into.

[**JFrog** $165M · Oct 2018](https://millionrounds.com/company/jfrog)[**Netifi** $2.0M · Aug 2018](https://millionrounds.com/company/netifi)[**Graphcore** $30M · Jul 2017](https://millionrounds.com/company/graphcore)[**Cylance** $100M · Jan 2016](https://millionrounds.com/company/cylance)

## Books by the people here

2 books written by people at Dell: [Michael Dell](https://millionrounds.com/person/michael-dell).

- Play Nice But Win: A CEO's Journey from Founder to Leader [Michael Dell](https://millionrounds.com/person/michael-dell) · 2021 4.12 from 2,694 ratings on Goodreads About the book WALL STREET JOURNAL BESTSELLER From Michael Dell, renowned founder and chief executive of one of America's largest technology companies, the inside story of the battles that defined him as a leader In 1984, soon-to-be college dropout Michael Dell hid signs of his… On AmazonListen on Audible
- Direct from Dell Strategies That Revolutionized an Industry [Michael Dell](https://millionrounds.com/person/michael-dell) · 1999 3.84 from 1,816 ratings on Goodreads About the book In 1983, Michael Dell, a freshman at the University of Texas at Austin, drove away from his parents' Houston home in a BMW he'd bought selling subscriptions to his hometown newspaper. In the backseat were three personal computers. Today, he is the chairman and CEO of Dell… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about Dell

### What does Dell invest in?

Dell invests most often at Series C and Series B (69% of the rounds on record), in sectors such as Insurance and Internet.

### How active is Dell?

43 investments on record, 1 of them in the last 12 months. The most recent was in Mar 2026.

### What has Dell invested in recently?

Its most recent investments on record: Nscale (Series C, Mar 2026), JFrog (Series D, Oct 2018) and Twistlock (Series C, Aug 2018).

### How big are Dell's cheques?

The median round it joins is $33M.

### Does Dell lead rounds?

Rarely, if at all: none of its 43 investments on record names it as the lead.

### Where does Dell invest?

Most of the companies it backs are in the United States (84%), the United Kingdom (11%) and Israel (5%).

### Is Dell investing now?

Yes: it is actively investing, with 1 investments in the last 12 months.

### Who does Dell invest alongside?

Most often Intel Capital (7 rounds together), Austin Ventures (3 rounds together) and BYU Cougar Capital (3 rounds together).

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