DBL Partners returns to fundraising market with $450m goal for Fund IV

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Socially conscious venture firm DBL Partners has returned to the fundraising market with the aim of pulling in $450m of commitments for its fourth fund.

DBL typically invests in growth-stage business in the information technology, sustainability-oriented products and services, and healthcare sectors, according to its website.

The firm’s specialty is investing in companies which provide top-tier venture capital returns and enable social, environmental and economic improvement.

The VC firm raised $400m for the final close of Fund III way back in 2015, at more than doubled the capital raised for its second fund, which closed on $140m in April 2011.

DBL’s first fund closed in 2004 on $75m, when it was still part of JPMorgan and operating under the Bay Area Equity Fund title.

The firm has registered DBL Partners IV in an SEC filing, but has yet to announce any capital commitments allocated to it.

Managing partners Nancy Pfund and Ira Ehrenperis are listed in the filing as directors for Fund IV.

Two years ago DBL registered with the SEC to raise $125m for a venture capital fund titled DBL Partners TIAB 2018. Its unclear how much the vehicle pulled in at final close.

DBL’s current and previous investments have included well-known brands such as Tesla Motors, Pandora and Map Box.

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