Founded in 1990 by Tim Draper, the network consists of 22 independent venture funds located in 60 cities across Asia, Australia, America, and Europe. They collaborate on investment diligence, marketing intelligence, corporate relationships, and co-investments. The network operates from San Mateo, California, and has funded over 800 companies with a total investment amount of $2 billion. They invest in various sectors, including artificial intelligence, fitness and wellness, gaming, and real estate.