Esprit Capital Partners, a European venture capital firm, today announced that Draper Fisher Jurvetson, a global venture capital group, has acquired a strategic stake in the firm making Esprit DFJ's exclusive partner in Europe.
Esprit will rebrand as 'DFJ Esprit' and members of DFJ's Silicon Valley based team will join Esprit's investment committee. Esprit will become the newest addition to the DFJ Network of venture partnerships which stretches around the globe.
The DFJ Network provides Esprit with access to significant deal flow, due diligence, corporate contacts, hundreds of technology companies, co-investment partners and potential exit opportunities globally.
Simon Cook, CEO of DFJ Esprit, said: 'Silicon Valley's greatest export in the last decade has been its entrepreneurial spirit which is being adopted globally and especially across Europe. DFJ was one of the first US VCs to expand out of its home market and therefore has the knowledge and approach to make global venture partnerships a success.'
DFJ Esprit currently manages 560 mln usd in two funds focused on private technology companies in Europe; Esprit Capital I which it acquired via a management buyout from Cazenove in 2006 and the evergreen, LSE-listed, Prelude Trust PLC. The team focuses on funding extraordinary entrepreneurs with the vision to build leading global companies. The DFJ Esprit portfolio includes Lovefilm, Packetexchange, Buy/at, Intense, Displaylink, XMOS and WAYN. DFJ Esprit exits include trade sales of Alphamosaic, KVS, Fillfactory, Blackspider, Neteconomy and DRI.