As Ivan has kindly pointed out I should have managed to blog this before Fred – but I guess better late than never.  In my defence I will point out that I am seven time zones away and that in the last 36 hours I have had one canceled flight, been stuck in Denver overnight, been taken to the wrong hotel – miles away from the right one, spent the night without my bag – been reunited with it :), had a burst tire on my hire car and finally a hotel reservation screw up here in Vail.  I hope it is good here!!!

Back to the deal – as you may have read in the FT or Real Deals today leading Silicon Valley VC DFJ have taken a stake in Esprit.  I am really excited about this deal and I’m looking forward to working with the folks at DFJ.  They are a great bunch of people who have been investing in startups since just about the year dot.

They have taken a minority stake – so we are still masters of our own destiny and all that – but it is meaningful enough that they will be motivated to work to contribute towards our success.  That is good news for us and our portfolio companies.

The real driver here is that following the rest of the industrial world VC is going global.  Across our portfolio we are manufacturing lasers in England to sell to Korea and manufacturing Sat Nav devices in China to sell in England.  Every single one of my portfolio companies is an international business.

If our portfolio companies are global we should be too.  Being part of the DFJ network – 120 partners in 30 locations across four continents is one of the ways in which we deliver on that imperative.

If you have any questions, thoughts or reactions I’d be very interested to hear them.