San Francisco-based venture capital firm DBL Investors has closed its second fund with $140 million. The fund is nearly double the size of the firms first fund, which closed in 2004 with $75 million. The new fund will focus on cleantech, IT, health care and sustainability-focused technology.
DBL Investors, a double bottom line venture capital firm headquartered in San Francisco, announced today that it has held a final close of its second venture capital fund. The fund, which closed on March 31, 2011, is $140 million in size, up from DBL’s $75 million first fund, which closed in 2004.
DBL’s second fund will focus on investments in cleantech, IT, health care and sustainability and will continue the firm’s focus on providing top-tier financial returns while driving meaningful and measureable social, economic, and environmental improvement in the regions in which it invests. In this fund, DBL Investors will concentrate on investing in companies in the western United States.
“We are gratified to earn the support of a wide array of Limited Partners in this fund, and look forward to working with another energetic group of entrepreneurs bent on building successful companies that change the world in powerful ways,” said Nancy E. Pfund, Managing Partner at DBL Investors.
Spun out of JP Morgan in 2008, DBL investors has helped to pioneer a new and growing field of investing that seeks to optimize both financial return and positive social impact. Investments from its first fund include Powerlight (sold to SunPower), Tesla Motors, SolarCity, Brightsource Energy, Pandora Media, Revolution Foods, and eMeter.
“We intend to continue the work and success of DBL’s first fund in our second fund. Many of the concepts pioneered in the first fund are now proven value builders for our companies as well as the communities in which they operate,” said Cynthia Ringo, Managing Partner at DBL Investors.
For more information, contact Nancy Pfund, at 415-354-2866 or Cynthia Ringo, at 415-354-2869, or www.dblinvestors.com.