Jun. 3–Two years after first exploring opportunities in the Sacramento region, a leading Silicon Valley venture capital firm has made its initial investment from its local office, cutting a dealwith a Chico startup.<\/p>\n
DFJ Frontier said Monday it is investing in Digital Path Networks, a provider of wireless Internet service. DFJ is an affiliate of Draper Fisher Jurvetson of Redwood City.<\/p>\n
Scott Lenet, managing director of the Sacramento outpost, declined to disclose the amount invested. But he said it’s in the range of what the firm believes a typical investment will run between $100,000 and $500,000, according to DFJ’s Web site.<\/p>\n
The venture capital was a long time in coming. Draper Fisher first revealed its interest in a Sacramento office in May 2001. But it took the firm 18 months to obtain funding, in the form of a $20 million infusion from the California Public Employees’ Retirement System. The funds are split between DFJ offices in Sacramento and Santa Barbara. The Sacramento office opened late last year.<\/p>\n
The CalPERS money is part of a $475 million program designed to bring more venture capital to areas outside Los Angeles and the Bay Area. Another Sacramento-area venture firm, American River Ventures of Roseville, received $10 million.<\/p>\n
Lenet said Digital Path is a promising company that’s already serving a small group of residential and business office customers in the Chico area. “Sometime soon the service will be available in the Sacramento area,” he said.<\/p>\n
He said DFJ believes there are plenty of investment opportunities in the immediate Sacramento area. He called the region an “epicenter of a terrific amount” of entrepreneurial activity.<\/p>\n
—–<\/p>\n
To see more of The Sacramento Bee, or to subscribe to the newspaper, go to http:\/\/www.sacbee.com<\/p>\n
(c) 2003, The Sacramento Bee, Calif. Distributed by Knight Ridder\/Tribune Business News.<\/p>\n","protected":false},"excerpt":{"rendered":"
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