Longtime Silicon Valley venture capital firm Draper Fisher Jurvetson (Venture) is rebranding to Threshold Ventures, Axios reported on Wednesday.
The three people who co-founded DFJ— Tim Draper; John Fisher; and Steve Jurvetson — are no longer involved with the firm.
DFJ Venture will be renamed Threshold Ventures, while DFJ Growth, an independent affiliate fund that focuses on late-stage deals, will keep its name, Axios reported.
Seattle-based general partner Bill Bryant, who joined DFJ Venture in 2007, is expected to transition to venture partner as the firm raises its 13th fund later this year. Bryant has helped lead investments in Seattle-area startups such as Chef, Remitly, Xealth, and others. We’ve reached out to Bryant for more details and will update this story when we hear back.
Other DFJ-backed companies in the Seattle region include Outreach, Azuqua, Loftium, Pro.com, and Redfin.
Silicon Valley firms have increased their activity and presence in the Seattle-area in recent years, as GeekWire reported in August.
Update: Bryant told GeekWire that he’ll continue to be actively involved with DFJ Venture for several years, serving on the board of his existing portfolio companies through exit, and potentially make a few additional new investments. He said the general partner role requires a 10-to-12 year commitment. “I’ve been doing startups since 1988 (so 30 years) and wanted to explore new life chapters in the coming years,” Bryant said. He added that DFJ will continue to seek investment opportunities in the Seattle region; Chris Kelley, who recently joined DFJ Venture, has roots in the area and intends to spend a significant amount of time in Seattle.
