Jafco Ventures has raised USD260m for its fifth and largest fund to date, Jafco Technology Partners V.
In contrast to its prior four funds where Jafco received all of its capital from its limited partner in Japan, Jafco Co Ltd, the new fund features over 20 new limited partners consisting of institutional investors, endowments, foundations and family offices.
"The consistency of our successful exits as a firm enabled us to attract a very high quality mix of new LPs," says Joe Horowitz, Jafco's managing general partner. “But our overall performance is due in no small part to the extraordinary entrepreneurs we have had the privilege to back and the opportunity to work alongside the greatest venture firms in Silicon Valley."
Since its launch ten years ago, Jafco has realized over 20 positive exits, with 15 alone that have an aggregate market value today of over USD23bn. Included in their list of successful outcomes are Aster Data (acquired by Teradata), ClairMail (acquired by Monitise), FireEye (IPO), 41st Parameter (acquired by Experian), Infinera (IPO), MoPub (acquired by Twitter), Palo Alto Networks (IPO), and Proofpoint (IPO).
"A USD250m fund size is ideal for our business model, so our goal was to keep as close to that target as possible while still accommodating great new investors," says Tom Mawhinney, a veteran general partner of the firm. "With this larger fund, we can put more money to work in each investment while continuing to apply a true team-based approach to assisting each portfolio company and to evaluate new deals."
