Dell Announces New Innovators Credit Fund
Dell made a splash last week with its announcement of the Dell Innovators Credit Fund—a $100 million initiative intended to amplify the effects of venture or angel funds recently invested by a select group of VCs or angel investors. Once startups are approved, they can borrow up to 10% of their funded amount—up to $150,00—for an added boost to their growth trajectory.
The Dell Innovators Credit Fund aims to get end-to-end, scalable technology solutions in the hands of growing businesses during that crucial early time in market.
"Behind most great company growth stories are pioneering uses of technology. In talking with business owners and listening to their needs, they tell us what they need most is access to capital and technology that enables them to grow," said Steve Felice, Dell president and chief commercial officer. "Dell's new Credit Fund provides credit and access to technology to help fuel global growth and innovation while helping startups preserve precious equity capital for other business needs."
The idea behind the initiative came from Ingrid Vanderveldt, Dell’s first entrepreneur-in-residence.