DFJ

DFJ Growth is a late-stage global venture capital firm that provides capital to companies in seed, early, and growth-stages.

ActiveVenture Capital

Updated: Dec 29, 2025 ·

Financial History

Total Raised

N/A

Valuation

N/A

Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Sep 1, 2025	Stoke Space	$510.0M Series D	—	Breakthrough Energy Ventures, NFX, Seven Seven Six, Trajectory Ventures, Charlie Songhurst, Justin Mateen, Kevin Weil, Kyle Vogt, Thomas Tull, Trevor Blackwell, General Catalyst
Sep 1, 2025	Modular	$250.0M Series C	—	2xN, 8090 Industries, ARCH Venture Partners, At One Ventures, BoxOne Ventures, Comal Ventures, General Catalyst, Wave Financial, WestRiver Group, Elia Montanari, Jeffrey Wilke, Sahin Boydas, Thomas Tull
Sep 1, 2025	Axiom Math AI	$64.0M Seed	—	Expa, Greylock, Intel Capital, Radical Ventures, Eric Futoran, Mike Abbott, Mike Vernal, Nitay Joffe, Quinn Slack, Stewart Butterfield
Sep 1, 2025	deskbird	$23.0M Series B	—	Breakthrough Energy Ventures, Future Ventures, Galaxy Digital, Gigascale Capital, HOF Capital, Innovation Endeavors, Khosla Ventures, Kleiner Perkins, Lowercarbon Capital, NEVA SGR, Safar Partners, Starlight Ventures, Bill Gates, Stanley Druckenmiller
Sep 1, 2025	Aven	$110.0M Series E	—	Breakthrough Energy Ventures, Future Ventures, Galaxy Digital, Gigascale Capital, HOF Capital, Innovation Endeavors, Khosla Ventures, Kleiner Perkins, Lowercarbon Capital, NEVA SGR, Safar Partners, Starlight Ventures, Bill Gates, Stanley Druckenmiller
Sep 1, 2025	Fourth Power	$20.0M Series A	—	Breakthrough Energy Ventures, Rachel Slaybaugh, Zachary Bogue, DCVC (Data Collective), Future Ventures, Galaxy Digital, Gigascale Capital, HOF Capital, Innovation Endeavors, Khosla Ventures, Kleiner Perkins, Lowercarbon Capital, NEVA SGR, Safar Partners, Starlight Ventures, Bill Gates, Stanley Druckenmiller
Aug 1, 2025	Commonwealth Fusion Systems	$860.0M Series B	—	Breakthrough Energy Ventures, Entrée Capital Ventures, Future Ventures, Galaxy Digital, Gigascale Capital, HOF Capital, Innovation Endeavors, Khosla Ventures, Kima Ventures, Kleiner Perkins, Lowercarbon Capital, Matias Ventures, Motier Ventures, NEVA SGR, Piva Capital, Safar Partners, Starlight Ventures, Team8, True Ventures, Walden International, Bill Gates, Stanley Druckenmiller
Aug 1, 2025	FORT Robotics	$19.0M Series B	—	1435 Capital Management, Aglae Ventures, Somesh Surapureddi, E1 Ventures, Family Office, Future Ventures, Gigafund, GoAhead Ventures, Highland Capital Partners, Lakeside Capital, Litquidity Ventures, Long Journey Ventures, Malex Enterprises, Mana Ventures, Outliers Fund, Partners Resolute, Social Capital, Space Capital, Starbridge Venture Capital, TCV, Tiger Global Management, Upfront Ventures, UpHonest Capital, Adeel Hussain, Fanny Surjana, Ishani Patel, Louis Beryl, Mark Cuban, Mattia Astori, Priyank Chandra, Rashaun Williams, Richard Cooperstein, Scott Banister, Shane Neman, Siddharth Singhal, Tim Ringel, Vikas Sabnani
Jul 1, 2025	PlayerZero	$5.0M Seed	—	645 Ventures, 8VC, Abstract Ventures, Bennett Siegel, Kevin Hartz, Adverb Ventures, Alchemy Ventures, Alt Capital, Ben Taft's Genius Ventures, Citi Ventures, Craft Ventures, DST Global, Expa, Felicis Ventures, First Round Capital, Forerunner Ventures, Foundation Capital, Foundry Group, Fuel Capital, Green Bay Ventures, Greylock, High Alpha, Intel Capital, LGF, Liquid 2 Ventures, Maniv Mobility, Matrix, Maverick Capital, Nyca Partners, Radical Ventures, Scribble Ventures, Seven Seven Six, SignalFire, South Park Commons, SV Angel, Thayer Ventures, Thrive Capital, Toyota Ventures, Two Sigma Ventures, Uncork Capital, Underscore VC, Weekend Fund, WndrCo LLC, Y Combinator, Amjad Masad, Austin Ogilvie, Chris Bennett, Daniel Kan, Deborah Liu, DJ Patil, Drew Houston, Dylan Field, Eric Futoran, Evan Moore, Fidji Simo, Guillaume Luccisano, Guillermo Rauch, Howie Liu, Jacob Kerzner, Jason Kay, Justin Mateen, Kevin Lin, Marc Benioff, Mark Pincus, Mike Abbott, Mike Liu, Mike Vernal, Nate Matherson, Nitay Joffe, Prescott Watson, Quinn Slack, Shishir Mehrotra, Stewart Butterfield, Tobias Lutke, Yan-David Erlich
Jul 1, 2025	Positron	$52.0M Series A	—	Atreides Management
Jun 1, 2025	Muon Space	$45.0M Series B	—	Congruent Ventures, Costanoa Ventures, Element Partners, Expa, Greylock, Intel Capital, Radical Ventures, Space Capital, Eric Futoran, Frederic Kerrest, Mike Abbott, Mike Vernal, Nitay Joffe, Quinn Slack, Stewart Butterfield, Yan-David Erlich
May 1, 2025	Unblocked	$20.0M Series A	—	Gautam Gupta, Kevin Hartz, Accel, AI4ALL, Alkeon Capital, Alt Capital, Alumni Ventures, AME Cloud Ventures, Andreessen Horowitz, Axiom Partners, Bain Capital Ventures, Blockchange Ventures, Bond, Conviction Partners, Decibel Partners, DTCP, Electric Capital, Expa, Forerunner Ventures, G2VP, General Catalyst, Greylock, Hanabi Capital, Hardware Club, Heretic Ventures, Innovation Endeavors, iNovia Capital, Intel Capital, InterWest, Madrona Ventures, Kazuma Ieiri, Operator Collective, Picus Capital, Radical Ventures, Ribbit Capital, Sequoia Capital, Sherpalo Ventures, Tribe Capital, Valar Ventures, Y Combinator, Aaron Levie, Akshay Kothari, Amjad Masad, Don MacAskill, Eric Futoran, Frederic Kerrest, Howie Liu, Matt Macinnis, Mike Abbott, Mike Vernal, Neha Narkhede, Nitay Joffe, Oliver Cameron, Quinn Slack, Ron Pragides, Stewart Butterfield, Tobias Lutke, Yan-David Erlich
Apr 1, 2025	Plug	$7.0M Seed	—	100X.VC, Floodgate, Greylock, LAUNCH, The Hit Forge, Vishal Rao
Apr 1, 2025	Thatch	$40.0M Series B	—	2.12 Angels, AAF Management Ltd., Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Brainchild, Coinbase Ventures, Matt Ocko, Digital Currency Group, Dimension Capital, Dispersion Capital, Dreamers VC, Founders Fund, General Catalyst, Goodwater Capital, Greylock, Hardware Club, Shawn Modarresi, Kindred Ventures, Locus Ventures, LombardStreet Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Oyster Ventures, Pantera Capital, South Park Commons, The General Partnership, The Hit Forge, Third Kind Ventures, Uncork Capital, Verified Capital, Balaji Srinivasan, Ben Davenport, Chris Kelly, George Burke, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Kaushik Subramanian, Mo El-Bibany, Shervin Pishevar
Apr 1, 2025	Chariot Claims	$4.0M Seed	—	Andreessen Horowitz, Forum Ventures, Indicator Ventures, Oceans, Tensility Venture Partners, WestWave Capital
Mar 1, 2025	X (formerly Twitter)	$1.0B Venture Round	—	01 Advisors, Andreessen Horowitz, Benchmark, Bond, CRV, DST Global, Floodgate, Insight Partners, IVP, Kleiner Perkins, Lowercarbon Capital, Spark Capital, Sutter Hill Ventures, SV Angel, The Hit Forge, True Ventures, Union Square Ventures, Joi Ito, Tim Ferriss
Feb 1, 2025	Hidden Level	$65.0M Series C	—	2.12 Angels, Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Coinbase Ventures, Matt Ocko, Dispersion Capital, Dreamers VC, Founders Fund, Goodwater Capital, Greylock, Hardware Club, Shawn Modarresi, Locus Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Pantera Capital, South Park Commons, The Hit Forge, Uncork Capital, Verified Capital, Balaji Srinivasan, Chris Kelly, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Shervin Pishevar
Feb 1, 2025	Gaia Dynamics	$2.0M Seed	—	AI Fund
Oct 1, 2024	ForceMetrics	$22.0M Series A	—	Costanoa Ventures, Felicis Ventures, Point72 Ventures, Allison Pickens (Allison Pickens Ventures)
Sep 1, 2024	BlackCloak	$17.0M Series B	—	20VC, Albion VC, Blue Heron Capital, Core Innnovation Capital, Global Founders Capital, Nexus Venture Partners, Pear VC, Stride VC, Ulu Ventures, Akshay Kothari, Girish Mathrubootham, Thomas Noonan
Sep 1, 2024	Thatch	$38.0M Series A	—	2.12 Angels, AAF Management Ltd., Kevin Hartz, AME Cloud Ventures, Andreessen Horowitz, Angelic Ventures, Brainchild, Coinbase Ventures, Matt Ocko, Digital Currency Group, Dimension Capital, Dispersion Capital, Dreamers VC, Founders Fund, General Catalyst, Goodwater Capital, Greylock, Hardware Club, Shawn Modarresi, Kindred Ventures, Locus Ventures, LombardStreet Ventures, Marcy Venture Partners, Mayfield, Menlo Ventures, Off the Grid Ventures, Oyster Ventures, Pantera Capital, South Park Commons, The General Partnership, The Hit Forge, Third Kind Ventures, Uncork Capital, Verified Capital, Balaji Srinivasan, Ben Davenport, Chris Kelly, George Burke, James Hong, Jared Leto, Jay Z, Jeff Seibert, John Hennessy, Kaushik Subramanian, Mo El-Bibany, Shervin Pishevar
Sep 1, 2024	Synex Medical	$22.0M Series A	—	Greylock, LAUNCH, The Hit Forge, Vishal Rao
Sep 1, 2024	Darkhive	$21.0M Series A	—	AllegisCyber Capital, Crosslink Capital, Dell Technologies Capital, Drive Capital, Intel Capital, March Capital, Monarch Collective, Pelion Venture Partners, PruVen Capital, Snowflake Ventures, Ten Eleven Ventures, Chris Cooper, Will Szczerbiak
Aug 1, 2024	Muon Space	$57.0M Series B	—	Congruent Ventures, Costanoa Ventures, Element Partners, Expa, Greylock, Intel Capital, Radical Ventures, Space Capital, Eric Futoran, Frederic Kerrest, Mike Abbott, Mike Vernal, Nitay Joffe, Quinn Slack, Stewart Butterfield, Yan-David Erlich
Jul 1, 2024	Credo AI	$21.0M Series B	—	Alumni Ventures, Stuart Peterson, Better Tomorrow Ventures, Decibel Partners, Foundry Group, FPV Fund, Gotham Gal Ventures, Jetstream, Mozilla Ventures, Sands Capital, True Ventures, Joi Ito, Josh Spear, Louis Beryl, Marc Benioff

Financial History

Total Raised

N/A

Valuation

N/A

Deep Dive

High-Level Overview

DFJ (Draper Fisher Jurvetson) is a prominent venture capital firm with deep roots in Silicon Valley, focused on growth-stage investing. Its mission centers on partnering with visionary entrepreneurs to scale transformative technology companies by providing capital, strategic counsel, and access to a powerful network without micromanaging. DFJ’s investment philosophy emphasizes backing bold, innovative ideas and supporting companies through their scaling journey, particularly by filling the funding gap between early-stage venture capital and public markets. Key sectors include technology-driven industries such as software, aerospace, fintech, and AI. DFJ has significantly impacted the startup ecosystem by backing disruptive leaders like Tesla, SpaceX, Coinbase, Twitter, and Unity, helping them mature privately before going public, thus shaping the growth-stage venture capital landscape[1][4].

Origin Story

DFJ was co-founded in 1985 by Tim Draper, John Fisher, and Steve Jurvetson, building on a legacy that traces back to William Henry Draper Jr., who co-founded one of Silicon Valley’s first venture capital firms in 1959. The Draper family has been influential in venture capital for four generations, with DFJ emerging as a forward-looking and fearless firm embracing bold new ideas. In 2005, DFJ Growth was established by John Fisher, Barry Schuler, Randy Glein, and Mark Bailey to address the funding gap between early-stage VC and public markets, enabling companies to scale more efficiently by staying private longer. This evolution positioned DFJ Growth as a pioneer in the growth-stage venture capital category, contributing to the success of many high-profile companies[1][2][3][4].

Core Differentiators

Unique Investment Model: DFJ Growth focuses on growth-stage investments, bridging the gap between early venture capital and public markets, allowing companies to mature privately.
Network Strength: The firm leverages a multigenerational Draper family legacy and a broad network of industry leaders, entrepreneurs, and investors.
Track Record: DFJ has backed iconic companies such as Tesla, SpaceX, Coinbase, Twitter, Baidu, and Unity, demonstrating a strong history of identifying and supporting disruptive technology leaders.
Operating Support: DFJ partners deeply with entrepreneurs, providing strategic advice and scaling expertise without micromanagement, emphasizing shared success over control[1][3][4].

Role in the Broader Tech Landscape

DFJ rides the trend of extended private company lifecycles, where startups stay private longer to scale more sustainably before going public. This timing aligns with market forces favoring mature private companies that can avoid short-term public market pressures. DFJ’s approach has influenced the venture capital ecosystem by creating a distinct growth-stage investment category, enabling companies to achieve greater scale and impact before IPO. Their investments in sectors like aerospace, fintech, AI, and software reflect broader technological shifts and innovation waves shaping the global economy[1][4].

Quick Take & Future Outlook

Looking ahead, DFJ Growth is poised to continue capitalizing on the long-term trend of private market maturation, supported by its recent $1.2 billion fifth fund raise. The firm’s focus on scaling transformative technologies positions it well to back the next generation of industry leaders in AI, automation, and sustainability. As market dynamics evolve, DFJ’s influence may deepen by fostering innovation ecosystems globally and maintaining its legacy of fearless, founder-centric investing. The firm’s future trajectory will likely be shaped by emerging technologies and the increasing importance of growth-stage capital in the venture ecosystem[4][1].

Sources

High-Level Overview

Origin Story

Core Differentiators

Unique Investment Model: DFJ Growth focuses on growth-stage investments, bridging the gap between early venture capital and public markets, allowing companies to mature privately.
Network Strength: The firm leverages a multigenerational Draper family legacy and a broad network of industry leaders, entrepreneurs, and investors.
Track Record: DFJ has backed iconic companies such as Tesla, SpaceX, Coinbase, Twitter, Baidu, and Unity, demonstrating a strong history of identifying and supporting disruptive technology leaders.
Operating Support: DFJ partners deeply with entrepreneurs, providing strategic advice and scaling expertise without micromanagement, emphasizing shared success over control[1][3][4].

DFJ