Deals

DFJ Growth closes a $470M fund to invest in the next round of billion-dollar companies

DFJ trophy Steve Jurvetson Flickr

DFJ Growth, Draper Fisher Jurvetson’s venture capital arm for later-stage companies, has closed a new $470 million fund.

Established in 2006, DFJ Growth has invested in Box, Foursquare, Silver Spring Networks, SolarCity, SpaceX, Tumblr, Twitter, and Yammer. It works with companies looking for at least $10 million.

“Our fundamental investment strategy remains the same — to partner with extraordinary entrepreneurs who are changing the world in important ways through innovation, and who are scaling their businesses rapidly and ascending toward category leadership with disruptive, breakout potential,” states a DFJ Growth blog post on the news today.

Just three months ago, Draper Fisher Jurvetson closed a $325 million fund for the firm’s early-stage deals. Now the entire DFJ operation has re-upped its money pile to back companies as they grow larger and larger.

Accel Partners is devoting two-thirds of its new $1.47 billion fund to late-stage companies.

Based in Menlo Park, Calif., DFJ Growth started off with a $290 million fund in 2007. DFJ Growth’s four founders (Mark Bailey, John Fisher, Randy Glein, and Barry Schuler) continue to lead up the fund, according to today’s post.

Draper Fisher Jurvetson itself began in 1985.

Partners Steve Jurvetson and Andreas Stavropoulos did an interview with VentureBeat last month, touching on milestones like the Hotmail investment and Tesla’s “near-death experience.”