DFJ Growth

Growth-stage venture firm.

DFJ Growth says on its site that it was founded in 2005. It began as the growth arm of Draper Fisher Jurvetson. The four founders are John Fisher, Barry Schuler, Randy Glein and Mark Bailey. VentureBeat reported in 2014 that its first fund was $290M in 2007, and that the four founders still led it. Dealroom lists Schuler, Glein and Fisher as managing partners, with Sam Fort, Justin Kao and Jocelyn Kinsey as partners and Ramin Sayar and Maxim Sirenko as venture partners. Fund sizes reported by the press are $470M (2014), $535M for the third fund (2017) and $1.2B for DFJ Growth V (2025). The fifth fund started with an $800M target. The firm has not published sizes for every fund in this list.

In the DFJ Growth V announcement, the firm names AI infrastructure and applications as a focus area, from consumer to enterprise. It lists ScaleAI and xAI as existing companies in that area. Randy Glein has described the firm's AI strategy on the firm's site. Recent AI-related deals include XBOW, an AI security company founded in 2024. DFJ Growth and Northzone led its $120M Series C in March 2026, which Yahoo Finance reported at a valuation above $1B. Startupintros lists Ramin Sayar and Sanjot Malhi as the leads on that round. Other recent AI-related names are Goodfire AI (Pitchbook lists an early-stage deal in February 2026), Positron AI (ZoomInfo lists a $230M Series B) and Saronic, a defense technology company. Saronic raised a $1.75B Series D in March 2026, where Caplight lists DFJ Growth as a co-investor.

DFJ Growth invests in companies during their scaling phase. Tracxn says Series C is its most common entry round, with Series B and Series D also common. It has also made earlier deals, such as the Goodfire AI round above. The firm does not publish a check size range. VentureBeat reported in 2014 that it works with companies looking for at least $10M. Tracxn counts roughly 5 new investments a year over the last decade, so the firm is selective.

• XBOW: AI-driven offensive security and vulnerability detection. DFJ Growth co-led the $120M Series C in March 2026. The Lounge desk lists a $155M Series C in May 2026.
• Saronic: autonomous defense technology. $1.75B Series D in March 2026, with DFJ Growth as a co-investor.
• xAI: AI model company, named on the DFJ Growth site as an existing AI portfolio company.
• Scale AI: AI data company, also named on the DFJ Growth site.
• Positron AI: AI inference semiconductors. Series B of $230M per ZoomInfo.
• Goodfire AI: AI interpretability. Early-stage deal in February 2026 per Pitchbook.

• dfjgrowth.com
• dfjgrowth.com/story/investing-in-the-future-dfj-growth
• www2.dfjgrowth.com/news/investing-in-the-future-at-dfj-growth
• techcrunch.com/2017/04/20/dfj-growth-closes-its-third-fund-with-535-mi
• venturebeat.com/ai/dfj-growth-closes-a-470m-fund-to-invest-in-the-next
• dealroom.co/investors/dfj-growth
• finance.yahoo.com/sectors/technology/articles/xbow-raises-120-million-
• startupintros.com/orgs/dfj-growth