Feeds

Ousted Fusion-io boss lands at VC

Competitive capital?

The essential guide to IT transformation

Don Basile, the recently ousted CEO of Fusion-IO, has become the managing director of Iron Capital Partners, a small venture-focussed investment bank which may, if rumours are right, be getting involved with Fusion-io competitor Violin Memory.

Fusion-io makes flash memory SSDs - known as ioDrives - which connect via a PCIe port direct to a server (or x86 disk controller's) bus. It has announced working projects with HP and IBM.

Basile was brought into start-up Fusion-io to be its CEO in March, 2008, after an A-round of funding had generated $19m. Iron Capital Partners was involved in the private placement of that funding round, which was led by NEA. Basile was replaced a year later by David Bedford, Fusion's general counsel and advisory board chairman, whom, ironically, Basile had brought into Fusion. Basile lists his Fusion-io positions as CEO and Chairman of the Board on his LinkedIn profile.

Fusion is set to announce a successful B funding round in April. It is not known if Iron Capital has been involved with that round.

Iron Capital Holdings was founded in 2007 by Jason Blum, who is its CEO. He is the Managing Partner of Iron Capital Partners. Brian Dennen is a co-founder and the Chief Operations Officer. According to his very recently updated LinkedIn profile, Don Basile is the Managing Director at Iron Capital Partners and has been for one month. There are currently five employees at the firm.

Why does it need a Managing Director when it already has a Managing Partner? The scuttlebutt is that Iron Capital could be involved in capital raising for Violin Memory and that Basile may well have a position in store at that firm

Violin Memory is another SSD start-up, making the Violin 1010 memory appliance. This is also a PCIe-connected product, and it can be populated with either DRAM or flash memory. The firm raised $10m in a Series A funding round in 2007. Its management team consists of co-founder and president Donpaul Stephens, co-founder and chief technology officer Jon Bennett, and Morgan Littlewood, VP of marketing and business development. There is no CEO.

Littlewood said it was best to talk about such things with Violin Memory's PR agency. That agency said it is Violin Memory's "policy not to comment on rumors. Violin Memory is in the process of speaking to potential candidates and institutional and strategic investors."

Iron Capital wasn't immediately able to comment. ®

Next gen security for virtualised datacentres

More from The Register

next story
6 Obvious Reasons Why Facebook Will Ban This Article (Thank God)
Clampdown on clickbait ... and El Reg is OK with this
No, thank you. I will not code for the Caliphate
Some assignments, even the Bongster decline must
Kaspersky backpedals on 'done nothing wrong, nothing to fear' blather
Founder (and internet passport fan) now says privacy is precious
TROLL SLAYER Google grabs $1.3 MEEELLION in patent counter-suit
Chocolate Factory hits back at firm for suing customers
Mozilla's 'Tiles' ads debut in new Firefox nightlies
You can try turning them off and on again
Sit tight, fanbois. Apple's '$400' wearable release slips into early 2015
Sources: time to put in plenty of clock-watching for' iWatch
Ex-IBM CEO John Akers dies at 79
An era disrupted by the advent of the PC
prev story

Whitepapers

5 things you didn’t know about cloud backup
IT departments are embracing cloud backup, but there’s a lot you need to know before choosing a service provider. Learn all the critical things you need to know.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?