Tuesday, March 5, 2013

Quorum Gets $11M From Former Quest CEO Vinny Smith's New Venture Firm

There's a new venture investor in town, thanks to Dell. Vinny Smith, the former CEO of Aliso Viejo-based Quest Software, appears to have become one of the most active investors in recent months in enterprise software, after starting up a new venture capital firm, Toba Capital. The latest investment from Toba is in backup, recovery, and business continuity appliance provider Quorum, based in San Jose, which reported an $11M Series B funding this morning from Toba Capital and Airtek Capital Group.

Toba Capital--which has a presence in both Orange County and San Francisco--has made investments in at least a dozen software startups in the last three or four months, making the venture capital firm one of Southern California's most active. Vinny Smith formed Toba Capital from his gains for selling Quest Software to Dell in September, for $2.4 billion. According to a recent report, Toba Capital is expecting to put as much as $150M into venture deals this year.

Vinny Smith took Quest from a small startup, to IPO, to its buyout and over 3,800 employees at the time of its acquisition by Dell last year.

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