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DFJ Growth is a venture capital firm founded in 2005 and headquartered in San Mateo, California. The firm was established by John Fisher, Barry Schuler, Randy Glein, and Mark Bailey to bridge the funding gap between early-stage venture capital and public markets. DFJ Growth focuses on partnering with visionary founders to build and scale technology companies, particularly in sectors with significant growth potential.
As of 2025, DFJ Growth manages a flagship fund of $1.2 billion, the largest in its history, which closed in May 2025. The firm has a portfolio of approximately 145 companies and has made significant investments across five funds. DFJ Growth primarily invests in North America, targeting growth-stage technology companies that demonstrate strong market traction.
Notable milestones include successful exits such as Coinbase, Twitter, Anaplan, Unity, and Ring. The firm’s strategic approach and extensive network have positioned it as a key player in the venture capital landscape.
DFJ Growth invests in growth-stage technology companies, particularly in sectors such as AI, robotics, biotech, healthcare, fintech, defense, space-tech, industrial, SaaS, and energy. Their investment thesis emphasizes backing visionary founders who are developing transformative technologies capable of creating large markets. The firm is particularly interested in AI infrastructure, life tech, machine assist technologies, and new frontiers in aerospace and defense.
DFJ Growth typically engages with companies at the Series C stage and beyond, focusing on those with a minimum run rate of approximately $10 million or a clear monetizable audience. The firm actively leads growth rounds, with observed check sizes ranging from $65 million to $93 million. Their co-investment patterns include partnerships with notable firms such as Salesforce Ventures, Lightspeed, and Coatue, enhancing their strategic support for portfolio companies.
DFJ Growth has a diverse portfolio of notable companies, including:
These companies represent a mix of current holdings and notable exits, showcasing DFJ Growth's commitment to investing in high-potential sectors.
Barry Schuler - Founder and Managing Partner. Former Chairman/CEO of AOL Time Warner, he brings extensive experience in technology and media investments.
Randy Glein - Founder and Managing Partner. He has led investments in notable companies such as Tesla and Twitter, focusing on growth-stage technology.
John H. N. Fisher - Founder and Managing Partner. A founding partner of DFJ, he has a strong background in venture capital.
Mark Bailey - Founder and Partner Emeritus. A veteran operator and investor from the dot-com era, he contributes valuable insights to the firm.
Sam Fort - Partner. He specializes in technology investments and has a strong track record in the sector.
Justin Kao - Partner. He focuses on growth-stage investments and has experience in scaling technology companies.
Jocelyn Kinsey - Partner. She brings expertise in operational support and strategic guidance for portfolio companies.
Kevin Tu - Partner. He is involved in sourcing and evaluating new investment opportunities.
Ramin Sayar - Venture Partner. He provides strategic insights and support to portfolio companies.
Maxim Sirenko - Venture Partner. He focuses on technology investments and supports portfolio growth.
Chris Shanahan - Principal. He is involved in deal sourcing and portfolio management.
Will Morrison - Principal. He specializes in technology investments and supports the firm's growth strategy.
Rob Ciechowski - Senior Associate. He assists in evaluating investment opportunities and supporting portfolio companies.
Brian Akin - Senior Associate. He focuses on operational support and strategic initiatives for portfolio companies.
Evan Fu - Associate. He is involved in deal sourcing and analysis.
Angel Duan - Associate. He supports the firm's investment activities and portfolio management.
To pitch DFJ Growth, founders should send an email to info@dfjgrowth.com. It is recommended to include a comprehensive pitch deck that outlines the business model, market opportunity, and traction. The firm values clarity and detail in presentations, particularly regarding the technology's potential and the founder's vision. Response times may vary, but founders should expect to hear back within a few weeks.
In May 2025, DFJ Growth closed its flagship Fund V at $1.2 billion, significantly exceeding its initial target of $800 million due to strong investor demand.
In April 2025, DFJ Growth led a $93 million Series B investment in Endor Labs, showcasing its active role in supporting growth-stage companies.
In 2026, DFJ Growth has already made three investments, continuing its trend of active deal-making in the technology sector.
Recent co-investors include Salesforce Ventures, Lightspeed, and Coatue, indicating DFJ Growth's strong syndication reputation.
What are DFJ Growth's investment criteria?
DFJ Growth focuses on growth-stage technology companies, particularly those in sectors such as AI, robotics, biotech, and fintech. They look for visionary founders with transformative technologies capable of creating large markets. The firm typically engages with companies at the Series C stage or later, with a minimum run rate of approximately $10 million.
How can I pitch DFJ Growth?
Founders can reach out to DFJ Growth via email at info@dfjgrowth.com. It is advisable to include a detailed pitch deck that outlines the business model, market opportunity, and traction. The firm values clear communication of the technology's potential and the founder's vision.
What makes DFJ Growth different from other VC firms?
DFJ Growth distinguishes itself by its focus on transformative technologies and its extensive network in the technology sector. The firm actively leads growth rounds and collaborates with co-investors to provide strategic support, helping portfolio companies achieve their growth objectives.
What is DFJ Growth's geographic focus?
DFJ Growth primarily invests in North America, targeting companies that are positioned to scale within this market. Their investment strategy is designed to address the funding gap between early-stage venture capital and public markets.
What is DFJ Growth's post-investment involvement?
DFJ Growth actively engages with its portfolio companies, providing mentorship, operational support, and access to its extensive network. The firm is known for leading growth rounds and often collaborates with other investors to enhance the resources available to its companies.
What is the size of DFJ Growth's flagship fund?
The firm's flagship fund, Fund V, closed in May 2025 with a total size of $1.2 billion, making it the largest fund in DFJ Growth's history.
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