DAG Ventures raising $500 million

June 28, 2011, 12:30 AM UTC

DAG Ventures is raising up to $500 million for its fifth fund, according to a regulatory filing. The Palo Alto, Calif.-based firm raised a similar amount back in 2008, and is again using Mercury Capital Advisors as its placement agent.

DAG is probably best-described as a “follow-on” firm, with a specific focus on later rounds for companies first funded by firms like Benchmark Capital, Kleiner Perkins or Sequoia Capital. Notable portfolio companies include AdMob (agreed to be acquired by Google), Chegg, Glam Media and SilverSpring Networks. Its sector focus spans from IT to life sciences to cleantech.

I reached out to managing director John Cadeddu for comment, but he declined due to regulatory restrictions.