Draper Fisher Jurvetson (DFJ) founder Tim Draper has decided to step back from his role at the venture capital firm he launched 28 years ago.
The firm said Draper, pictured, will not be an investment partner in its next fund, but will remain a managing director of existing vehicles. He will “continue to be part of DFJ’s management team to guide the firm’s direction, manage his existing responsibilities, and work on new projects that could potentially help DFJ in the future,” said DFJ.
“I am just skipping a fund to do some work building Draper University and experimenting with new models for venture capital. I will of course be an investor in any new fund we create,” said Draper, according to Reuters.
Since its launch in 1985 DFJ has raised more than $7bn and invested in over 400 companies around the globe including Skype and Baidu.
Earlier this year, DFJ hired former Facebook executive Bubba Muraka as a general partner and managing director.
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