advertising information
   personal technology

 custom news
 Headline News brief
 daily almanac
 CNN networks
 CNN programs
 on-air transcripts
 news quiz

CNN Websites
 video on demand
 video archive
 audio on demand
 news email services
 free email accounts
 desktop headlines

 message boards



Comdex coverage by CNN and

Storage pioneer Shugart plays venture capitalist

November 19, 1998
Web posted at: 12:50 PM ET

by David Pendery


(IDG) -- LAS VEGAS -- The venture capital company founded by ex-Seagate CEO Al Shugart to nurture start-up and established companies on Friday will make its first $500,000 investment in Blue Sky Research, a San Jose, Calif.-based maker of optical storage technologies, Shugart said Tuesday.

Although Shugart said technology start-ups are the most likely beneficiaries of Al Shugart International (ASI) largesse, the company, like its namesake, will experiment with a range of different business opportunities and interests.

"There are no rules. We don't want to limit it," Shugart said during an interview here at Comdex. "The No. 1 criteria is that [the target company] is interesting and fun."
MORE COMDEX NEWS home page's continuous Comdex news
 PC World's Comdex page
  Networking news at Network World Fusion Free registration required to view this site.
 Comdex news for IT managers at Computerworld
 Start your free e-mail account
 The latest Microsoft antitrust news at
  Search in 12 languages

In addition to locating interesting, fun companies, ASI's mandates include "maintaining active awareness of technology status and trends, assisting entrepreneurial companies, managing a start-up venture capital fund, and operating a holding company for implementing ideas when ASI wishes to become an active management participant" in selected start-ups and more established companies, Shugart said.

Any company that ASI invests in must also evince the bedrock principles of ethical conduct, honesty, fairness, and integrity, Shugart added.

Shugart estimates that ASI will initially have $50 million to $100 million in capital available for start-ups that catch the company's attention.

Companies that may initially be considered include developers of optical 3-D storage, semiconductors, and bandwidth technology, Shugart said. Shugart is currently on the boards of seven technology companies, including makers of semiconductors, Internet software, flash data storage, digital-imaging products, and battery technology.

"The last thing I want to do is start a disk drive company," Shugart said, and in fact, in the wake of the storage pioneer's acrimonious ousting by the board of Seagate Technology in July, he has agreed not to develop competing products with the company.

Al Shugart International (ASI), in Soquel, Calif., can be reached at (831) 479-7852.

David Pendery is an InfoWorld reporter.

Related stories:
Latest Headlines

Today on CNN

Related stories:
Note: Pages will open in a new browser window  
Related sites:

External sites are not
endorsed by CNN Interactive.

Enter keyword(s)   go    help


Back to the top
© 2000 Cable News Network. All Rights Reserved.
Terms under which this service is provided to you.
Read our privacy guidelines.