Billionaire Microsoft (MSFT) co-founder Paul Allen will be opening an office in Silicon Valley to invest in new technology companies. Allen’s Vulcan Capital is set to open the Palo Alto office in the next few weeks and it will focus on investments in emerging Internet, software and technology companies, including middle and late-stage venture capital and pre-IPO deals, Reuters reports.
In the past, Allen has invested in companies including AOL (AOL), Ticketmaster, DreamWorks SKG (DWA) and cable firm Charter Communications (CHTR). More recently his firm has invested in new technologies such as online real-estate agent Redfin, shopping adviser Decide.com and smartphone audio software maker Audience.
“We are going to expand our footprint in broad tech investments, we’d like to get more resources, people on the ground there (Silicon Valley),” said Paul Ghaffari, Vulcan Capital’s chief investment officer. “We have a real appetite to put new ideas in the portfolio.”
Vulcan Capital is expected to announce additional details about its Palo Alto office in the next few days.