The fund plans to raise more than US$ 654.38+0 billion (about S $654.38+0.7 billion) in venture capital to invest in start-ups in Asia, Europe and Israel. Jennifer Fonstad, its partner, revealed that the Singapore government is one of the biggest investors, but she declined to give details.
The new fund named ePlanet Ventures has completed the first round of fund-raising activities, and obtained 600 million US dollars (about S $65.438+S $300 million). Fonstad predicts that the fund will eventually raise more than $654.38 billion.
DFJ, headquartered in Silicon Valley, has invested in Internet startups such as Hotmail.
It plans to raise the seventh venture capital fund in the United States this year. Warren Packard, another partner of the company, said that its sixth fund raised $400 million.
Although the share price of the Internet has plummeted in the past two months, Parker pointed out that because the third to fifth funds of DFJ have achieved at least twice the rate of return every year, the demand of investors has not decreased. However, he admitted that the fund could not continue the "appalling" rate of return in the past.