By Dan Primack
November 1, 2012

FORTUNE — Last week I asked Term Sheet email readers if it would be possible to raise a micro-VC fund focused on enterprise rather than consumer. Lots of replies, and certainly something I plan to revisit in depth soon. One problem, of course, is that “enterprise” is way too broad a term to be meaningful. After all, there’s a decent argument that LinkedIn is an enterprise company.

In the meantime, a bit of info on one fund that may be relevant: Data Collective, the early-stage “big data” effort recently launched by Matt Ocko and Zach Bogue.

To be sure, the term “big data” also has become confused, with companies like Pinterest trying to co-opt the mantle. But my understanding is that Data Collective is focusing only on startups with an algorithmic base to their product.

The San Francisco-based firm originally raised just $6 million for its debut fund (a proof of concept, if you will), and now is targeting between $70 million and $75 million for its second effort. Hearing that it may already have a cornerstone investor from the sovereign wealth world.

Data Collective also has hired a group of “equity partners” – mostly senior executives at operating companies who are expected to work a handful of hours each month (sourcing, etc.) in exchange for carry. These equity partners, who I’ve not yet been able to identify, also would have co-invest rights.

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