Plug and Play Tech Center
| Company type | Private |
|---|---|
| Industry | Venture capital, Startup accelerator |
| Founded | 2006 |
| Founder | Saeed Amidi |
| Headquarters | Sunnyvale, California , United States |
Area served | Global (United States, Europe, Asia, Middle East) |
Key people | Saeed Amidi (Founder) |
| Products | Venture capital investments, Startup accelerator programs, Office space and services for startups |
| Parent | Amidi Group |
| Website | www |
Plug and Play Tech Center (PNP) is a venture capital firm headquartered in Sunnyvale, California, United States, focusing on investments in early-stage technology enterprises. Between 2020 and 2022, it ranked as the globe's most active startup accelerator, completing an average of 929 deals annually, outpacing rivals such as Y Combinator and Techstars.
History
Saeed Amidi, the founder who descends from an Iranian immigrant family, expanded upon the Amidi Group’s foundations in manufacturing and real estate. In 1988, the group purchased 165 University Avenue in Palo Alto, California, leasing office spaces to emerging companies. During the Dot-com bubble, Amidi and his associate Pejman Nozad made early investments in tenants including Google, PayPal, and Logitech, which yielded substantial multimillion-dollar profits.
In 2006, Amidi reinvested these earnings to create the Plug and Play Tech Center located in Sunnyvale—a 150,000-square-foot complex providing startups with office space, essential services, data center facilities, and telecommunications infrastructure. Utilizing its role as a landlord, the company identified promising startups for funding and organized networking opportunities. By September 2007, the center accommodated 108 startup companies.
From 2020 through 2022, Plug and Play distributed its investments with 41% allocated to the U.S., 30% to European ventures, and 17% to Asian startups. The firm broadened its international presence by opening regional offices, including a collaboration in 2017 with Mitsubishi UFJ Financial Group to establish a Tokyo branch aimed at supporting Japanese startups. In June 2023, Plug and Play arranged a $100 million investment fund alongside Jada—backed by Saudi Arabia’s Public Investment Fund—to support technology startups within that region.
Notable investments
Among its significant portfolio are investments in companies like PayPal, LendingClub, and Dropbox, underscoring its influence within rapidly expanding technology markets.