Friday, June 25, 2010

DFJ Mercury Closes Second Fund At $70M

Houston-based venture capital firm DFJ Mercury has closed funding on its second fund, DFJ Mercury Fund II, at $70M, the fund said today. The firm, which invests in see and early stage information technology, advanced materials, and bioscience companies, said the investors in the fund include both new institutional investors as well as investors from DFJ Mercury Fund I. DFJ Mercury said the new fund now brings its total under management to $100M. The fund focuses its investment efforts on companies in Texas, Colorado, Illinois and Michigan. DFJ Mercury said it will look to invest in 15-18 companies, investing between $100,000 and $1.5M in each company, up to $4M over the lifetime of a firm, and hass already invested in seven firms, including ActaCell, Graphic.ly, and Macheen. DFJ recently started boosting its outreach efforts in Houston, with a new DFJ Mercury Office Hours event which is being held today.