DFJ Growth, which is in registration to raise $500 million for its latest fund, has added David Dubick as a principal. For the past two years, Dubick has worked with early-stage technology companies at Lightspeed Venture Partners, where he was a senior associate and sourced or managed investments in CloudPassage, Docker, Dremio, Handshake, Parsable, CloudBees, Velo3D, SnapRoute, and Barefoot Networks, according to a blog post by DFJ Partner Randy Glein.
Early-stage investor DCM Ventures raised $500 million in commitments for its eighth flagship fund. The oversubscribed fund is about 43 percent larger than DCM’s seventh fund, which closed three years ago on $350 million. In addition to Fund VIII, DCM Ventures early last year raised $170 million for its Turbo Fund, which makes growth-stage investments, and $100 million for its second A-Fund, which focuses on seed-stage deals across mobile and emerging platforms.
San Francisco-based Zenrez, a provider of a consumer fitness platform to secure last-minute bookings, has raised $2 million from ARTIS Ventures, Summit Action Fund (the investment arm of Summit Series) and Precursor Ventures. Zenrez has now raised $4 million in total funding.
San Francisco-based GameOn, a provider of a mobile engagement platform for sports fans, announced it has raised $2 million in seed-stage funding from. Investors include Quest Venture Partners, XG Ventures, Next News Ventures and the DeBartolo family, as well as Joe Montana and Snoop Dogg. Former NBA player Gary Payton is also an investor, leading an AngelList syndicate, the company says. GameOn has now raised $3.5 million in total funding.
Detroit-based Fontinalis Partners, which invests in transportation technologies, announced it has raised $100 million for its second fund. The firm, which also has an office in Boston, says it now manages $165 million in committed capital since it was founded in 2009 by Ralph Booth, Bill Ford (the great-grandson of Henry Ford), Chris Cheever, Chris Thomas and Mark Schulz.
Longtime venture capitalist and biotech entrepreneur Lawrence Bock, who co-founded Avalon Ventures in 1988, passed away at his home on July 6 after battling pancreatic cancer. He was 56. Bock, born Sept. 21, 1959, in Brooklyn, New York, founded joined Fairfield Venture Partners in 1985 after doing research at Genentech in infectious diseases and earning an MBA from UCLA. He then helped launched Avalon and then moved to CW Group in 1997. He most recently was serving as a special limited partner at Lux Capital.
San Francisco-based EarnUp, a provider of an automated loan-payment platform, has launched and announced it has raised $3 million in seed-stage funding from Blumberg Capital, Kapor Capital and Camp One Ventures. The company has been bootstrapped to date and the seed funding is the company’s first institutional round. David Blumberg, founder and managing partner of Blumberg Capital, has joined the board as part of the seed financing. EarnUp is still in private beta and expects the app to be available later in the year.
Palo Alto, California-based Light, maker of a high-tech, multi-aperture computational camera called the L16, announced it has raised $30 million in Series C funding led by GV. The company has now raised about $65 million in funding since it was launched in 2013, according to data from Thomson Reuters. GV, formerly called Google Ventures, was joined by returning investors Bessemer Venture Partners, CRV, Eclipse Ventures, StepStone Group, strategic investor Foxconn and Paul Jacobs, executive chairman of Qualcomm.
Princeton, New Jersey-based Edison Partners announced it has raised $275 million for Edison Partners VIII, beating its $250 million target. The firm previously raised $250 million for Fund VII, which closed in 2010, according to Thomson Reuters data. Edison Partners focuses on fintech, healthcare IT, enterprise and marketing software sectors. The firm says it has achieved nine exits of its portfolio companies in the last 18 months, including the acquisitions of FolioDynamix and NetProspex, among others.
Call Andy McLoughlin a “Brexpert.” The British-born partner at SoftTech VC has been in high demand since the U.K. voted to exit the European Union.
Healthcare and tech investor Canaan Partners announced the appointment of Richard Boyle as partner. He was previously chief executive and chairman of the online commercial real estate marketplace LoopNet, which CoStar Group acquired for about $900 million in 2012. Boyle was formerly an operating partner at Khosla Ventures and was an angel investor before that.
US HealthVest, which develops behavioral health facilities nationwide, announced it has secured $50 million in a Series B round of funding led by new investor Oak HC/FT, with existing investors Polaris Partners, F-Prime Capital Partners and Dr. Richard A. Kresch. Kresch, president and chief executive of USHV, previously founded Ascend Health Corp. USHV raised a $36 million round of funding in 2013.
San Francisco-based Tempo Automation, which provides prototype circuit boards or engineers, announced it has raised $8 million in funding from Lux Capital, SoftTech VC, Jerry Yang‘s AME Cloud Ventures and Bolt. Haystack is also an investor.
Paris-based Iris Capital, a growth-stage venture firm focused on the digital economy, announced today it has added Bernhard Gold as a partner and managing director of its North American operations. He was previously managing director with Deutsche Telekom’s venture arm, formerly known as T-Venture. Gold, who will be based in San Francisco, will focus on deals in the United States, particularly Silicon Valley.
Los Angeles-based Thrive Market, an online retailer of health foods, vitamins and beauty products, has raised $111 million in new funding led by Invus. Existing investors Greycroft Partners, e.ventures and Cross Culture Ventures also participated in the round. As part of the funding, two executives from the investment firm Invus will join the board, which already includes Greycroft Partner Dana Settle.
One great IPO debut from the unicorn Twilio won’t help save a bad year for offerings from VC-backed companies
500 Startups announced it is raising a $25 million fund to invest in startups headed by black and Latino entrepreneurs. The firm said the new fund is expected to invest in about 100 companies. As is its custom when announcing a new microfund, 500 Startups said the new vehicle will be led by founding partner Dave McClure. Also leading the new fund is Monique Woodard, a venture partner at 500 Startups and co-founder of Black Founders, a national organization that aims to increase the number of black entrepreneurs in tech.
The venture industry lost another one of its fathers as David Morgenthaler, who founded Morgenthaler Ventures in 1968 and helped shape the VC industry as it is known today, died on June 17 in Cleveland. He was 96. No cause of death was immediately disclosed. In announcing his passing, the firm noted that Morgenthaler, an early board member […]