Adam Dell, the lesser-known brother of technology billionaire Michael Dell, is launching a $100 million venture capital fund to provide seed money for Silicon Alley companies in New York, The Post has learned.
Dell, who recently sold his Silicon Valley home and bought a loft in Silicon Alley, will launch Impact Venture Partners on Monday, with the backing of five high-profile investors from the worlds of venture capital and Wall Street.
Big brother Michael is expected to be part of the funding group, through his MSD Capital, which has long invested in start-up technology companies.
Younger brother Adam, a 30-year-old wunderkind, is a former principal in Crosspoint Ventures, one of Silicon Valley's most successful venture capital firms.
While Dell was at Crosspoint, the company was an early investor in hot businesses such as Cars Direct, as well as business-to-business e-commerce ventures including Ariba and Kana.
One of the five companies to get early seed money from the fund will be OpenTable.com, an online restaurant reservation network, which got $10 million in funding from Impact Venture Partners and Benchmark Capital, a venture capital firm in Silicon Valley.
Another is myWebOS.com, the world's first Web-based operating system, which also got a $10 million investment.
Dell is expected to disclose those names and three others Monday.
The fund will focus on early-stage companies, and not those that have already attracted the attention of other venture capitalists.
Dell will recruit new companies through his well-established contacts in the Internet world, as well as through teaching a class on venture capital and entrepreneurship at Columbia University.