I love that Timothy Leary quote (the title above). And in a time when venture capital fundraising requires nerves of steel and the patience of a saint, we welcome the news from San Francisco’s DBL Investors that they have closed approximately 2/3 of the $150MM target for their 2nd fund. DBL’s two managing partners are Nancy Pfund and Cynthia Ringo. Of the team of 5 at DBL, 3 are of the XX-chromosome variety, making them a highly unusual group. Gotta love a VC fund where there is a line for the ladies’ room.
DBL expects to complete the fund by year-end and continue their focus on investing in healthcare, IT, consumer products and clean technology companies in the Western U.S. Key to their strategy is DBL’s focus on the “Double Bottom Line” to which their name refers. It is intended to guide their portfolio selection towards companies that can deliver top-tier venture capital returns while enabling social, environmental and economic improvement in the regions in which they operate. DBL’s team spends time thinking about things like how the companies in which they invest can positively impact their communities on a micro and macro level in the areas of education, wage fairness, support of minority and women businesses and environmental improvement, among others. Worked for Ben and Jerry; no reason it can’t work for Nancy and Cynthia (and their partners). Clearly their LPs like it, enabling them to put some serious points on the fundraising board at a time when it is challenging for anyone with any chromosomes to raise a fund.
Congratulations to DBL and good luck driving that last fundraising mile…I hear the Tesla is a pretty smooth ride.