DFJ Growth, the venture capital division of Draper Fisher Jurvetson, has closed its new fund amounting to $470 million. According to its blog, the aim of the venture capital wing continues to remain unchanged as far as the investments are concerned.
The venture capital division prefers to partner with entrepreneurs who are extraordinary and are innovative enough to change the world in a number of ways. As per the firm blog, this change should be brought about informatively. The entrepreneurs must scale their chosen businesses quickly and aim at becoming the leaders of their category.
A fund valued at $325 million was closed by Draper Fisher Jurvetson in February. The fund was one of the early stage deals struck by the firm. The complete DFJ operation has now increased its fund to support companies when they grow bigger. To give an example, Accel Partners has earmarked two-thirds of its $1.47 billion kitty to fund later stage companies.
About DFJ Growth
DFJ Growth began with a fund of $290 million in 2007. The Menlo Park, California-based company has four founders -John Fisher, Barry Schuler, Mark Bailey and Randy Glein. According to industry reports, all four founder members continue to nurture the fund. Draper Fisher Jurvetson started operations in 1985.
About Draper Fisher Jurvetson
Draper Fisher Jurvetson is headquartered in Menlo Park and is a well known venture capital firm. DFJ has a number of affiliate offices in 30 cities scattered all over the world. The capital commitments of the firm stand approximately at $7 billion at present.
The venture capital firm is credited with the funding of a considerable number of technology companies like Overture (taken over by Yahoo (NYSE: YHOO)); Hotmail (taken over by Microsoft (NASDAQ: MSFT)), Baidu (NASDAQ:BIDU), Glam Media and Skype (taken over by eBay (NASDAQ: EBAY)). Other prominent investments include SugarCRM, Tesla Motors (NASDAQ: TSLA), Interwoven, SpaceX, Box.net, Tesla Motors Cafemom, SolarCity (NASDAQ: SCTY) and Meebo among many others.
The founder of DFJ, Timothy C. Draper,started the company in 1985. The initial name of the company was Draper Associates. The Fisher in the company name represents H.N Fisher, who was a colleague of Draper when they both worked in Alex Brown & Sons. The third name in the company belongs to the firm’s first managing director and also a co-founder Steve Jurvetson.