San Mateo, CA-based venture capital firm Draper Associates closed a $190m early stage fund.
Draper Associates has historically been a personal investment vehicle for Tim Draper, founder of DFJ and the Draper Venture Network and early investor in Skype, Baidu, Tesla, TwitchTV, Hotmail, Cruise Automation, and Thumbtack.
This fund, which represents the first time the opportunity has been offered to outside LPs, will focus primarily on leading early-stage investments, with the ability to support companies with follow-on rounds in certain cases.
The vehicle targets the “Global Silicon Valley”, where FinTech, GovTech, Healthcare, Education, Insurance and Logistics technologies are transforming the world.
The core investment team for Draper Associates consists of Tim Draper, Billy Draper, and Andy Tang.