DFJ Esprit and Tempo Capital merge secondary businesses

DFJ Esprit Secondaries will focus on secondary opportunities in growing technology companies in the European venture market.

David Tate and Olav Ostin, both managing partners at Tempo Capital, will manage the newly-formed secondaries business. DFJ Esprit's primary venture team will work closely with DFJ Esprit Secondaries, investing from the most recent fund DFJ Esprit III.

The first joint portfolio acquisition was signed in January this year and is expected to close in the coming months.

The combined group currently has over $1.1bn under management in European venture including Lovefilm, the Cloud and Apatech.

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