Feeds

Ousted Fusion-io boss lands at VC

Competitive capital?

Security for virtualized datacentres

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. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
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?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.