The first overseas venture fund of Silicon Valley venture fund Draper Fisher Jurvetson(DFJ) is expected to exceed $1 billion; The Singapore government is one of the major investors.

The fund plans to raise more than US$ 1 billion (about S $1.7 billion) in venture capital to invest in start-up companies in Asia, Europe and Israel. Its partner Jennifer Fonstad revealed that the Singapore government is one of the largest investors, but she declined to give details.

The new fund named ePlanet Ventures has completed the first round of fund-raising activities and obtained 6 million US dollars (about S $1.3 billion). Fonstad expects that the fund will eventually raise more than $1 billion.

DFJ, based in silicon valley, has invested in internet startups such as Hotmail.

it plans to raise the seventh venture capital fund in the United States this year. Warren Packard, another partner of the company, said that its sixth fund raised $4 million.

although the share price of the internet has plummeted in the past two months, Parker pointed out that the demand of investors has not decreased because the third to fifth funds of DFJ have achieved at least twice the rate of return each year. However, he admitted that the fund could not continue the "appalling" rate of return in the past.