Jafco reaches $260m final close on fifth global VC fund

According to a release, the fund – named Jafco Technology Fund V - has tapped a group of over 20 new LPs comprising institutional investors, endowments, foundations and family offices.

All of the capital in the previous four funds came from parent organization Jafco Japan. The parent continues as an LP but has cut back its commitment to $100 million to make room for outside LPs.

The fundraising follows a number of successful exits in the US over the past year for Jafco. These include cyber security firm FireEye, which generated a 47x return for the firm when it went public in the US in September, and mobile advertising company MoPub which was acquired by Twitter for $350 million around the same time.

Since its launch in 2004, Jafco claims to have completed 20 exits, 15 of wich have an aggregate market value of around $23 billion.

"A $250 million fund size is ideal for our business model, so our goal was to keep as close to that target as possible while still accommodating great new investors," said Tom Mawhinney, a general partner with the firm, "With this larger fund, we can put more money to work in each investment while continuing to apply a true team-based approach to assisting each portfolio company and to evaluate new deals."’

Jafco, which describes itself as a mid-stage, broad-based information technology investor, has a business development team in Tokyo and is able to provide portfolio companies access to the rest of Asia through its affiliate Jafco Asia.   

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