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DBL Investors
DBL Investors was founded in 2004 by John H. Chaffee, who previously spent 12 years at TPG Growth where he led investments in companies such as Vail...
DBL Investors
DBL Investors was founded in 2004 by John H. Chaffee, who previously spent 12 years at TPG Growth where he led investments in companies such as Vail Resorts and PetSmart (per public record). The firm operates out of San Francisco, California, and has no disclosed additional offices. Wealth origin is not separately attributed to a specific family; the firm's capital comes from institutional and family office limited partners. The firm pursues a double-bottom-line investment strategy targeting financial returns alongside measurable social or environmental impact. Asset-class exposure spans growth-stage venture capital, with a focus on technology, healthcare, and sustainability sectors. DBL Investors makes both fund commitments and direct co-investments. Geographically, the firm concentrates on US-based companies. Known portfolio holdings include Beyond Meat, Etsy, and Fundbox (per public record). Total professionals are not publicly disclosed. The firm does not maintain a disclosed philanthropic foundation or operating company beyond its investment vehicles. No recent operational event has been publicly reported in the last 24 months. What structurally differentiates DBL Investors is its explicit double-bottom-line mandate, which embeds environmental and social criteria directly into investment analysis — not as a separate impact fund but as a core requirement across all portfolio companies. This architecture mirrors a traditional venture firm but with a governance overlay that binds impact metrics to financial decisions.
General information
Firm type
Asset Manager
Year founded
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AUM
Undisclosed
Location
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Corporate office
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Frequently asked questions
Who runs investment decisions at DBL Investors?
Founding partner John H. Chaffee leads investment decisions. Chaffee previously worked at TPG Growth for 12 years, where he led investments in Vail Resorts and PetSmart (per public record). The firm has not disclosed a CIO or other senior investment professionals.
How does DBL Investors source proprietary deal flow?
The firm leverages its double-bottom-line mandate to attract entrepreneurs seeking both financial and impact-oriented investors. Deal flow comes from its network of institutional LPs and co-investors. DBL Investors does not publicly disclose a formal sourcing process such as an accelerator or thematic scouting team.
Is DBL Investors structured as a single family office or does it operate more like a venture firm?
DBL Investors operates as a venture capital firm with institutional limited partners, not a single family office. It manages committed capital from foundations, endowments, and family offices. The firm follows a traditional VC fund structure with co-investment opportunities.
Does DBL Investors participate in fund commitments or only direct deals?
DBL Investors makes both fund commitments and direct co-investments, according to public records. Its primary vehicle is a venture capital fund that invests directly into growth-stage companies. The firm also participates in syndicate deals alongside other venture firms and impact investors.
What investment stages does DBL Investors typically target?
The firm targets growth-stage venture investments, primarily Series B through Series D rounds. It focuses on companies with proven business models and measurable social or environmental impact. Earlier-stage investments are not a typical focus per public record.
Which sectors does DBL Investors explicitly avoid?
DBL Investors avoids sectors that conflict with its double-bottom-line mandate, such as fossil fuels, tobacco, defense, and gambling. The firm does not invest in companies that cannot demonstrate a positive social or environmental outcome alongside financial returns. Other traditional VC sectors like enterprise software may be excluded if impact is not identifiable.
What is DBL Investors' known posture on co-investments alongside external GPs?
DBL Investors has a history of co-investing alongside other venture and growth equity firms. Its portfolio includes companies like Beyond Meat and Etsy that had multiple institutional investors. The firm evaluates co-investment opportunities on a deal-by-deal basis, requiring alignment with its impact criteria.
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