Andrew Tang, at one time the managing director of corporate venturing unit ABB Technology Ventures, has partnered with Tim Draper, a co-founder of VC firm Draper Fisher Jurvetson, on a $190m fund, TechCrunch has reported.
The fund will be overseen by Draper Associates, which has previously acted as Draper’s own investment vehicle, but which is now recruiting external limited partners for the new fund, in which Draper himself is still the largest LP.
Draper will remain as managing partner of the fund, with Tang and son Billy Draper making up the core investment team.
Tang headed ABB Technology Ventures, the corporate venturing arm of power and automation company ABB, between the start of 2011 and the end of 2014. He has since acted as CEO of VC workspace Draper University and has been managing director of DFJ Dragon Fund for just over a decade.
– Photo of Andrew Tang courtesy of Draper Associates