FORTUNE — Venture capitalist Ullas Naik this summer quietly stepped down as a managing director with Globespan Capital Partners, after more than 11 years with the firm (including time at its predecessor, JAFCO America Ventures).
Sources tell me that Naik has been talking to folks about raising a $25 million seed-stage fund focused on enterprise start-ups. He also has interest in mobile web, social web and Internet infrastructure software.
Nothing close to formalized yet, with Naik currently doing more listening than talking. He’s also making angel investments through a personal platform called Streamlined Ventures, including deals for Referly (social network referral service) and Keen IO (cloud data warehouse and analytics for event data).
While with Globespan, Naik’s deals included BladeLogic (acquired by BMC Software), Revivio (acquired by Semantec) and Copan Systems (acquired by Silicon Graphics).
Sign up for Dan’s daily email newsletter on deals and deal-makers: GetTermSheet.com