DCM Ventures is a private equity and venture capital firm in California that focuses on mobile, consumer internet, communications and infrastructure, software and service sectors. Founded 1996 in Menlo Park, California, United States by David Chao and Dixon Doll, it invests in early stage ventures, series B, series C, series A, and series D rounds. Its portfolio companies include Tempo, Pony.ai, Eaze, Skylo, and Wanxue Education. As of February 2020, DCM Ventures has made 485 investments. Their most recent investment was on February 26, 2020, when Tempo raised $17.5M. DCM Ventures has had 84 exits, the most notable of which include Careem, Kakao, and Life360. DCM Ventures has raised 13 funds, their latest being DCM IX. This fund was announced on September 17, 2019 and raised a total of $710.7M
CM (also known as DCM Ventures) is a venture capital firm located in Silicon Valley, Tokyo and Beijing. It has approximately $4.2 billion under management. DCM was the first Silicon Valley firm to invest in the early-stage technology sector in China, beginning in 1999. Since 2019, DCM has had seven initial public offerings, which include Bill.com (NYSE: BILL), BlueCity (NASDAQ: BLCT), Freee (TYO: 4478), Life360 (ASX: 360), Sansan (TYO: 4443), UCloud (SHA: 688158), and VisasQ (TYO: 4490). DCM has over $200 billion in enterprise value.
DCM (formerly Doll Capital Management) was co-founded in 1996 as an investment firm targeting early-stage companies by David Chao and Dixon Doll. It now has operations in Silicon Valley, Tokyo and Beijing. The company has mostly invested in start-ups in the U.S., China, Japan and South Korea but does have additional investments in Europe, the Middle East and Latin America.
DCM general partners include David Chao and Jason Krikorian in the U.S.; Hurst Lin and Ramon Zeng in China; and Osuke Honda in Japan. Kyle Lui is an additional investment partner in the U.S
In 2020, DCM raised $880 million for its global family of investment funds. The committed capital includes $780 million for DCM IX, its largest global fund to date, and $100 million for its third A-fund dedicated to global seed-stage investments. Since its last fund, DCM has had 17 liquidity events, including Careem (acquired by Uber), Pony.ai, Wrike and Musical.ly (now TikTok).
In 2016, DCM raised $770 million for its investment funds. The firm runs a flagship fund for early-stage companies, a growth-stage investment fund (its Turbo Fund), and the A-Fund, an Android-focused VC fund that targets mobile and emerging platforms from early-stage companies. In total, it has about $3.5 billion under management. Between 2013 and 2016, DCM returned $1.5 billion to its investors in profit upon exits from various investments previously under management.
