July 3, 2013 / 4:00 PM / 7 years ago

Silicon Valley venture capital vets launch $111 million fund

(Reuters) - Two longtime venture capital investors have started a new firm, Wing Venture Partners, with a $111 million fund aimed at start-ups specializing in cloud computing, data and mobile technologies.

Founded by Gaurav Garg and Peter Wagner, Wing plans investments in the range of $8 million to $10 million over the life of a company in its portfolio, the firm said on Wednesday.

Wing has already invested in networking company Cumulus Networks and security platform FireEye.

Garg was a partner at Sequoia Capital for 10 years and worked with wi-fi provider Ruckus Wireless and Jawbone, which makes wireless mobile devices. Prior to Sequoia, he founded Internet infrastructure company Redback Networks that was later sold to Ericsson (ERICb.ST)(ERIC.O).

Wagner was a managing partner at Accel Partners working with Fusion-io Inc FIO.N, which helps companies deliver data faster, and Redback Networks where he met Garg.

Reporting by Jennifer Saba in New York; Editing by Jeffrey Benkoe

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