Networking technology producer Cisco has launched an independent US-based venture capital firm called Decibel, providing an undisclosed amount of capital in the process.
Decibel will focus on seed and series A-stage investments exclusively in the enterprise technology sector and will initially concentrate on North America. It is being led by founding partner Jon Sakoda, who was formerly a partner at VC firm New Enterprise Associates.
The firm has not revealed how much it has to work with, but a securities filing in October 2018 indicated that Sakoda planned to raise $500m for a vehicle known as Catalyst Labs Fund I, three months after media reports suggested he was working with Cisco.
Rob Salvagno, vice-president of Cisco’s corporate venturing unit, Cisco Investments, said: “Decibel is designed to bring together the best of both worlds – the capabilities of a best in class, early stage VC firm with the resources only a company like Cisco can offer.
“With Decibel, Cisco is adding another dimension to its multi-faceted approach to innovation – a relationship with entrepreneurs and the startup ecosystem at their earliest inception and with this, a lens into the people, technologies and trends that will shape the enterprise in the decades to come.”
