DFJ Closes $350M Fund

Xconomy San Francisco — 

Draper Fisher Jurvetson, the Menlo Park, CA-based venture firm with a network of 17 partner funds around the world, announced July 16 that it has closed fundraising for its tenth venture fund at $350 million. DFJ originally set out in 2008 to raise $600 million for the fund, which would have made it slightly smaller than the firm’s $650 million Fund IX, but economic conditions made the fundraising process both more difficult and more lengthy than in the past, partner Josh Stein told PE Hub’s Dan Primack. The firm plans to invest the new fund in the cleantech, infotech, mobile, and life science sectors.