Seed-stage venture capital firm DFJ Frontier has closed a $55.4 million fund, its second. The new fund, dubbed DFJ Frontier LP II, was mostly raised from institutional investors that included CalPERS, Credit Suisse Group, Hamilton Lane Advisors, the Los Angeles City Employees' Retirement System and the Oregon Growth Account.
The firm, a member of DFJ's global network of 16 funds, focuses on seed-stage investments on the West Coast in the media, information technology and life sciences sectors, among others. It also announced it has opened offices in Los Angeles, which will become the firm's new headquarters, and Portland, Ore.
The new fund has already invested in several startups, including publishing company Boom! Studios, video search and management startup Delve Networks, online market research service provider United Sample and Zadspace, which provides direct marketing services for the packaged shipments industry. DFJ Frontier said it typically leads first rounds.
The firm also said it promoted venture partner Frank Foster to managing director.
- Olaf de Senerpont Domis
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