DFJ's international franchise operation, long mocked as a McDonalds approach to global expansion, now looks prescient. Even Kleiner Perkins, long the most local of the top-tier venture capital firms, and the most snobby, is opening an office in China. But Tim Draper, DFJ's rambunctious founder, is ahead of his Silicon Valley competitors: with investments in weird Estonian companies such as Skype, conferences for Russian entrepreneurs, and a new fund in Vietnam. The payoff? This photo, taken in Ho Chi Min City, earlier this month, speaks for itself. [Thanks, Beaverton_Hustla, for the tip.]

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