DFJ plans India-specific fund

Silicon Valley-based Draper Fisher Jurvetson (DFJ), with over $3 billion capital commitments since 1985, is planning to set up an India-specific fund shortly.

The early stage venture capital firm is looking at a fund of a size ranging between $100 million and $200 million, to be spent over a period of four years.

According to Tim Draper, founder and managing director of DFJ, the firm is planning to set up a few offices in India with the first one likely to be in Hyderabad.

"We are already actively looking at a dozen firms in India for funding," Draper said. One of the companies that it has funded in India includes Crorepati, which is in the entertainment business. Draper, however, refused to disclose further details regarding the firm.

Some of the other successful ventures that DFJ has funded globally include Hotmail, Skype and Selectica. DFJ has a global network of affiliated venture funds like Access Venture Partners and SI Ventures.