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The two-year Junos Innovation Fund will target firms that Juniper feels 'complement' its growth strategy.
Partners specialising in security, advanced mobility and video, virtualisation, network automation, optical networking and green networking will be in line to get their hands on some of the loot.
The fund backs up other elements of Juniper's Junos platform, including its Ready Software business unit for network ISVs.
"Junos already offers our customers, partners and developers a powerful platform to drive innovation for the network without having to build from scratch," said Juniper CEO Kevin Johnson.
"With the Junos Innovation Fund, we'll expand that ecosystem with capital resources that will accelerate the velocity and variety of 'new network' solutions reaching our customers," he added.