466 posts and columns on venture capital
The boisterous venture capitalist Tim Draper will not be an investment partner for the next fund of the firm that his name headlines, Draper Fisher Jurvetson confirmed today after a Fortune scoop. DFJ said Draper will be one of the largest contributors to the new fund and will remain a member of the firm’s management committee, but will not be an investing partner as he focuses on other projects, like the entrepreneurship program that also bears his name, Draper University.
GRP Capital is now Upfront Ventures, it announced today. (The longtime Los Angeles-based venture capital firm was originally “Global Retail Partners.”) Upfront — whose recent investments include Maker Studios, DataSift and ZestFinance — is also moving to Santa Monica, and has raised a new $200 million fund.
News ByteRock Health will now give each accepted company $100,000 from Kleiner Perkins Caufield & Byers, Mohr Davidow Ventures, Aberdare Ventures and the Mayo Clinic. Awarding a chunk of no-strings-attached cash follows the lead set by Y Combinator and followed by other accelerators. The Kleiner hookup comes from new partner Mike Abbott’s previous role as an advisor at Rock Health.
News Bytepreviously reported, the fund will not be managed by KPCB’s Brook Byers, Bill Joy, Ray Lane and Aileen Lee (who is now doing a seed fund), though those partners will continue to be involved in ongoing investments. What’s new about the fund is a renewed emphasis on digital enterprise companies, in addition to digital consumer, green tech and life sciences.