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Short Take: VC firm signs PC giants to Net fund

Silicon Valley venture capital firm Accel Partners announced that a number of computer heavyweights signed onto its Internet Technology Fund II, a $35 million component which funds new high-tech companies. Microsoft, Compaq Computer, Lucent Technologies, Nortel, and industry executive Isao Okaw are all investors. Accel said it is the first time Microsoft, Lucent, and Nortel have invested in a U.S. venture fund.

Silicon Valley venture capital firm Accel Partners announced that a number of computer heavyweights signed onto its Internet Technology Fund II, a $35 million component which funds new high-tech companies. Microsoft, Compaq Computer, Lucent Technologies, Nortel, and industry executive Isao Okaw are all investors. Accel said it is the first time Microsoft, Lucent, and Nortel have invested in a U.S. venture fund.