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Tim Draper, the founder and former managing director of Draper Fisher Jurvetson. Photo: Ramin Talaie/Corbis via Getty Images

Draper Fisher Jurvetson (DFJ), one of Silicon Valley's oldest venture capital firms, is changing its name to Threshold Ventures, Axios has learned. Limited partners were informed last night via email.

What happened: None of the three name partners are still involved. Tim Draper and John Fisher left more than five years ago, as part of a larger shake-up. Steve Jurvetson was pushed out 14 months ago under still-murky circumstances.

Lesson learned: Don't name investment firms after people. It just creates conditions for future confusion. There are still plenty of tree species and rock types that don't yet have a sign on Sand Hill Road.

  • Fisher continues to be a partner with DFJ Growth, an independent, later-stage affiliate that is expected to retain its name.
  • DFJ will not rename existing funds, but is expected to use the Threshold brand for a new, 13th fund that is expected to hold a first close this June. It still has around $125 million of dry powder in DFJ Venture XII.
  • Threshold's two managing partners will be Josh Stein and Emily Melton. Longtime partners Andreas Stavropoulos and Bill Bryant are expected to transition into non-GP roles with the new fund.
  • When asked for comment, Stein emailed: “We’re really excited to open this new chapter for our team and plan to continue the focused and high-conviction investment strategy that we’ve followed in our prior two Venture funds."

Go deeper: How to name your startup

Go deeper

Scoop: Gina Haspel threatened to resign over plan to install Kash Patel as CIA deputy

CIA Director Gina Haspel. Photo: Win McNamee/Getty Images

CIA Director Gina Haspel threatened to resign in early December after President Trump cooked up a hasty plan to install loyalist Kash Patel, a former aide to Rep. Devin Nunes (R-Calif.), as her deputy, according to three senior administration officials with direct knowledge of the matter.

Why it matters: The revelation stunned national security officials and almost blew up the leadership of the world's most powerful spy agency. Only a series of coincidences — and last minute interventions from Vice President Mike Pence and White House counsel Pat Cipollone — stopped it.

Updated 8 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Coronavirus deaths reach 4,000 per day as hospitals remain in crisis mode — CDC warns highly transmissible coronavirus variant could become dominant in U.S. in March.
  2. Politics: Biden says, "We will manage the hell out of" vaccine distribution — Biden taps ex-FDA chief to lead Operation Warp Speed amid rollout of COVID plan — Widow of GOP congressman-elect who died of COVID-19 will run to fill his seat.
  3. Vaccine: Battling Black mistrust of the vaccines"Pharmacy deserts" could become vaccine deserts — Instacart to give $25 to shoppers who get vaccine.
  4. Economy: Unemployment filings explode againFed chair: No interest rate hike coming any time soon —  Inflation rose more than expected in December.
  5. World: WHO team arrives in China to investigate pandemic origins.

John Weaver, Lincoln Project co-founder, acknowledges “inappropriate” messages

John Weaver aboard John McCain's campaign plane in February 2000. Photo: Robert Schmidt/AFP via Getty Images)

John Weaver, a veteran Republican operative who co-founded the Lincoln Project, declared in a statement to Axios on Friday that he sent “inappropriate,” sexually charged messages to multiple men.

  • “To the men I made uncomfortable through my messages that I viewed as consensual mutual conversations at the time: I am truly sorry. They were inappropriate and it was because of my failings that this discomfort was brought on you,” Weaver said.
  • “The truth is that I'm gay,” he added. “And that I have a wife and two kids who I love. My inability to reconcile those two truths has led to this agonizing place.”