MENLO PARK — DCM Ventures, an early stage venture capital firm, announced the close of its eighth flagship fund, DCM VIII, with $500 million in committed capital, to be invested in early stage companies across the United States, China and Japan.
With the new fund, DCM Ventures now has raised $770 million in new commitments over the past 18 months for its global family of funds including an oversubscribed $500 million for the firm’s flagship global investment fund, DCM VIII; $170 million for its Turbo Fund primarily focused on growth stage deals; and $100 million for its second A-Fund primarily focused on seed stage investments across mobile and emerging platforms. The new commitments bring the total assets under management to over $3 billion.
“These new funds are a reflection of our ability to consistently deliver substantial distributions to our limited partners in all market environments,” said David Chao, co-founder and general partner, DCM Ventures. “In the last three years alone, DCM Ventures distributed over $1.5 billion back to our limited partners, and we look forward to replicating this success as we continue to partner with visionary entrepreneurs who are on the cutting edge of technology across the globe.”
In closing the new funds, DCM Ventures welcomed a potent mix of return and new strategic limited partners that share the firm’s strategy in working with companies early in their development including global mobile and internet giants Baidu, Gree, Naver, SoftBank, Tencent, and Qualcomm. “We continue to invest in DCM Ventures because we see it as a critical path for getting to know some of the world’s most interesting early-stage technology companies,” said Martin Lau, president, Tencent Holdings.
“We are witnessing the birth of entirely new technology platforms ranging from artificial intelligence and drones to virtual reality and over-the-top media – each driven by talented founders who are scaling products earlier and faster than ever before,” said Jason Krikorian general partner, DCM Ventures.
Hurst Lin, co-founder of Sina (NASDAQ: SINA) and general partner DCM Ventures China added, “Through our deep network across Asia and the United States, we are excited to partner with these innovative founders to help grow the next generation of cross-border companies including Kakao Talk, Analogix, Happy Elements, DerbySoft and 51Talk (NYSE: COE), which just completed its public offering on the NYSE.”
DCM Ventures’ flagship fund, DCM VIII, will continue to make significant investments across proven technology sectors including digital media, software-as-a-service, fintech, e-commerce, as well as newer platforms such as virtual reality, automated drone technology and artificial intelligence. The firm plans to invest the funds across the United States and Asia – a strategy that has spawned multiple private and publicly traded companies billion dollar companies such as 58.COM (NASDAQ: WUBA), Kakao Talk (KOSDAQ: 035720) and SoFi.
DCM Ventures is uniquely structured with an integrated global team that facilitates knowledge transfer between the United States and Asia across multiple technology sectors. The managing partners of DCM VIII are David Chao, Jason Krikorian, Osuke Honda, Hurst Lin and Ramon Zeng, all of whom were part of the previous funds.