DNX Ventures, a San Mateo, California-based venture capital firm that backs business-to-business technology startups in the U.S. and Japan, has closed a $315 million third fund to make more investments.

DNX Ventures said in the announcement today that it plans to write checks ranging from $1 million to $5 million to early-stage B2B startups. The firm is looking to make bets in multiple segments, including software-as-a-service, cybersecurity and financial technology.

DNX Ventures’ newly announced fund is the latest indicator that the B2B segment continues to draw significant investor interest despite the recent declines in global venture capital activity. The fund is at least the third announced since the start of July that focuses specifically on early-stage business technology companies. Earlier, Berlin-based La Famiglia raised 50 million euros to bet on emerging B2B startups and London’s Nauta Capital closed a 150 million euro fund. 

“We have been fortunate to work with numerous industry-defining startups in Japan and the United States,” said DNX General Partner Q Motiwala. “Our third fund will continue to provide immense value to startups and ambitious entrepreneurs who are looking to reshape their respective industries. Great entrepreneurs and startups are born during economic downturns.”

The firm, which has been investing in B2B startups since 2011, can claim multiple successful exits. Cylance Inc., a portfolio company that focused on connected device security, was acquired for $1.4 billion two years ago. DNX Ventures, along with Dell Technologies Capital, was also an investor in Jask Inc., the threat detection provider that Sumo Logic Inc. bought last December.

DNX has already made a number of investments out of its new $315 million fund. They include hospital robot maker Diligent Robotics Inc., recruiting software provider Herp Inc. and Macrometa Corp., which operates a serverless computing platform.

Photo: DNX Ventures/Facebook