Draper Fisher Jurvetson (DFJ) closed its new DFJ Fund X raising $350m.
The vehicle will focus on investing in innovative companies all over the world, across the cleantech, IT, mobile, and life science sectors.
In order to reach its target, the fund will leverage the geographic reach of the DFJ Global Network, comprised of 17 network partner funds spanning four continents, with $7B under management.
Commenting on the closing announcement, Tim Draper, a managing director and founder of DFJ, was quoted to say: “We are excited that our investors share our vision of funding entrepreneurs determined to make a significant global impact.
“Technology has no borders, and the emerging global markets continue to show entrepreneurship is not limited to Silicon Valley. While we recognize that the economic times are challenging worldwide, we look forward to investing this new fund and believe it’s a great time to be in venture capital”, he added.