DFJ Closes $325 Million Fund, Acknowledges Shifting Role for Founders

Venture capital firm DFJ has closed DFJ Venture XI, a $325 million fund earmarked for early-stage investments in startups that “think big.” But the Menlo Park company said further down in the post that two of the firm’s founding partners, Tim Draper and John Fisher, won’t act as investing partners for the fund. Draper is taking time to work on his school for entrepreneurs, Draper University, while Fisher will be focused on growth-stage investments. Both will remain on DFJ’s management committee and invest into the fund personally, DFJ said. Late last year, Fortune wrote that the two were stepping down from the firm, a report the company denied. While “think big” is a broad term, the company said it will specifically look for opportunities “in fields as diverse as machine learning, mobile applications, cloud computing, business applications, robotics, satellites, synthetic biology, communications and intelligent devices.”

This article originally appeared on Recode.net.