Ex-Apple CEO makes first venture investment
Sienna Ventures says its new partner, Gil Amelio, has invested in security and encryption company Viaquo.
As previously reported by CNET News.com, Amelio, former chief executive of Apple Computer, has invested in security and encryption company Viaquo.
Sienna invested $5 million in Viaquo's second round, bringing the total to $10 million for the round. With this latest round, the San Jose, Calif.-based company received a 12.3 percent increase in valuation, a Viaquo spokesman said.
The company plans to use the proceeds from this round to further develop its PXa product. The software is designed to allow employees to access sensitive data over the Internet, depending on their level of authorization.
Amelio, a Sienna senior partner, and Dan Skaff, a Sienna managing partner, will receive seats on Viaquo's board. Other investors in the second round include VenGlobal Capital Fund and Hsieh Investment.
Amelio, a former venture capitalist with Beneventure Capital, announced in May he was joining Sienna.
The venture firm typically invests in companies that are seeking their early rounds of funding and focuses on the wireless communications, networking and software industries.
Amelio, who was ousted from Apple computer in 1997 and also previously served as National Semiconductor's chief executive, was hired by Sienna to assist its portfolio companies with managing their operations.
Sienna's contribution to Viaquo?s second round brings the company?s total funding to $12 million.