Paul Allen, the billionaire co-founder of Microsoft, has opened an office in Silicon Valley to invest in emerging technology and Internet companies.

The Palo Alto office will operate under the name Vulcan Capital, the investment arm of Vulcan Inc., the company that manages Allen’s personal fortune of around 15,000 million (11,600 million Euros).

The 60-years-old, co-founded with Bill Gates entered as enterprise software engineer in 1975 but left in 1983 after suffering with cancer. The wealth he got for his role in the company, plus its successful investments in sports
and properties has made him the 53rd richest person in the world, according to Forbes magazine.

Allen, a pioneer in the development of software for personal computers, remained as a chief technology officer at Microsoft for its first eight years, has been a prolific investor since the mid-1980s and participated in the launch
of several companies founded an innovative technology called Interval Research.

Allen has invested in hundreds of companies over the past 30 years, including AOL, Ticketmaster, the film studio DreamWorks SKG and cable company Charter Communications.