Salesforce.com Launches $100M Venture Fund

Salesforce.com

launched a $100 million venture fund to invest in companies developing mobile apps related to the Salesforce products. The San Francisco-based customer relations and cloud services company didn't disclose initial investment amounts. But the fund has so far invested in I.am+, a brand created by Black Eyed Peas music group member William Adams to create consumer products that combine fashion with technology. Also in the list is DocuSign, which provides technology for electronic exchanges of contracts and signed documents, automated sales-lead company InsideSales.com as well as Skuid, which provides app-development technology. The newly launched Salesforce1 Fund is part of Salesforce Ventures, which has has invested in more than 100 enterprise cloud startups since 2009, including Anaplan, DocuSign, Dropbox, Evernote, FinancialForce, MuleSoft and StayClassy. Salesforce traded recently at $60.16 a share, up 0.6 percent.