Ubiquity Ventures launches with $30 mln fund

Palo Alto, California-based Ubiquity Ventures has debuted. The new early-stage venture firm, founded by Sunil Nagaraj, formerly of Bessemer Venture Partners, invests in software beyond the screen with a focus on startups in smart hardware and machine intelligence applications. The firm is launching with a $30 million debut fund that will make investments of up to $2 million in startups as early as inception stage.