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The Venture Codex

Dell Technologies Capital

430 Cowper Street, Suite 200, Palo Alto, CA, 94301, United States

Overview

Dell Technologies Capital is the investment arm for Dell Technologies. We’ve invested in over 100 companies that push the envelope on digital technology for enterprises and consumers. We are a team of world-class investors who help our companies succeed. We focus on early-stage investments with passionate founders. Our companies gain unique access to the go-to-market capabilities of Dell Technologies. For more information visit www.delltechcapital.com

Total investments
174
Lead investments
63
Investments · 12mo
11
Active investors
9

Sector focus

  • Cloud Infrastructure
  • Enterprise
  • Financial Services
  • Software
  • Venture Capital
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Investment portfolio

  • skan.ai

    Led · Series C · Aug 2026

    Skan AI builds a continuously evolving record of how work actually happens across enterprise systems, distilling billions of observed work signals into execution logic for AI. Its platform consists of Skan AI Blueprint (discovery and prioritization of AI opportunities), Skan AI Intelligence (process benchmarking and workforce management), and Skan AI Agents (agent execution grounded in observed work). The company reports it has processed over 25 billion work signals, is trusted by a quarter of the Fortune 50 and seven of the top ten U.S. banks, and has delivered more than $500 million in cumulative customer value. Skan AI reported more than 300% year-over-year growth and average net dollar retention of 150% in the past year. The company says customers realize average operational savings of 30–40% from deployments. The business targets complex, regulated workflows in industries such as banking, insurance, and healthcare, and is based in Menlo Park, Calif.

  • Fly.io

    Led · Series D · Aug 2026

    Fly.io builds connected infrastructure intended to run AI agents and the applications they generate, offering real computers with durable disk drives, secure connectivity to other systems, and the ability to scale to millions of instances. The company is led by CEO Scott Johnston and is headquartered in San Francisco, CA. Fly.io serves over 37,000 customers, including more than 8,000 agent-native organizations. With the new Series D funding, Fly.io plans to accelerate its position in providing computers for agents as enterprises increasingly deploy production agentic AI applications. The company emphasizes durable storage, secure system connectivity, and high scalability as core capabilities for production workloads.

  • Prime Intellect

    Participated · Series A · Jul 2026

    Founded in 2024, Prime Intellect offers a full-stack platform for AI agent development that bundles compute access, a reinforcement learning framework, and evaluation tools delivered as a modular marketplace. The platform enables customers to pick specific tools without being locked into an all-or-nothing system. Prime Intellect sells a hosted version of its tools and counts customers including Ramp, Zapier, and Flapping Airplanes. The company reports an annualized revenue run rate of $100 million. Prime Intellect positions itself to let enterprises train and refine agentic systems in-house rather than rely on closed frontier AI labs. Ramp reported that an agent built with Prime Intellect outperformed frontier models on accuracy while running faster and at a fraction of the cost.

  • Limitless Labs

    Led · Series A · Jun 2026

    Limitless Labs builds a Physical AI Foundation Model trained on metal cutting physics, CAD geometry, and machine constraints to power a CAM Agent that automates CNC programming inside CAD/CAM systems like Mastercam, Siemens NX, and PTC Creo. The CAM Agent identifies features, recommends tools and operation sequences, generates toolpaths, and produces shop-floor-ready programs while keeping engineers in control. Customers claim the platform can reduce CNC programming time by up to 50%, and the company has production deployments with Blue Origin, Cadillac F1, Sandvik, and Iscar. The platform supports deployment across cloud, private VPC, and AWS GovCloud and is ITAR-compliant for regulated industries. Financially, the company has raised $27.3 million to date, including a $20 million Series A announced in June 2026. Planned uses of recent funding include U.S. commercial expansion, advancing closed-loop CNC automation, growing the CAM Agent, expanding the Tel Aviv research lab, and roughly doubling headcount over the next year.

  • Bland AI

    Led · Series C · Jun 2026

    Bland builds in-house voice AI models optimized for long, non-linear, high-stakes conversations and deploys them as production-grade agents across phone, SMS, and chat. Its models are designed to handle long interactions—typical calls last 30 to 45 minutes—and to track context, adapt in real time, and carry interactions to resolution. Bland serves regulated industries including healthcare and financial services and handled more than 3.5 million calls per week, 175 million AI phone calls in the prior year, and counts 250+ enterprise customers and hundreds of thousands of self-service users. The company emphasizes building models purpose-built for voice to address latency, interruption, ambiguity, and continuity as core system requirements. Following the Series C, Bland plans to expand research, grow its engineering team, and continue scaling its platform across industries where conversations are central to operations.

Team