DCM Ventures – Wikipedia

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DCM Ventures
Type private
Founded 1996
Founders David Chao and Dixon Doll
Headquarters Silicon Valley, Tokyo and Beijing
Website www .dcm .with
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DCM (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. [first] DCM was the first Silicon Valley firm to invest in the early-stage technology sector in China, beginning in 1999. [first] 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). [2] DCM has over $200 billion in enterprise value. [first]

History [ edit ]

DCM (formerly Doll Capital Management) was co-founded in 1996 as an investment firm targeting early-stage companies [3] by David Chao and Dixon Doll. [first] [4] It now has operations in Silicon Valley, Tokyo and Beijing. [5] [6] The company has mostly invested in start-ups in the U.S., China, Japan and South Korea [7] [8] [3] but does have additional investments in Europe, the Middle East and Latin America. [9]

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. [2] Kyle Lui is an additional investment partner in the U.S. [2]

In 2021, Business Insider revealed that DCM’s 2014 flagship fund is set to generate $10 billion and a 30x return multiple, making it one of the top performing venture funds in recent history. [ten]

In 2020, DCM raised $880 million for its global family of investment funds. [first] 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. [11] [twelfth] Since its last fund, DCM has had 17 liquidity events, including Careem (acquired by Uber), Pony.ai, Wrike and Musical.ly (now TikTok). [11]

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In 2016, DCM raised $770 million for its investment funds. [13] The firm runs a flagship fund for early-stage companies, a growth-stage investment fund (its Turbo Fund), [14] and the A-Fund, an Android-focused VC fund that targets mobile and emerging platforms from early stage companies. [3] In total, it has about $3.5 billion under management. [5] Between 2013 and 2016, DCM returned $1.5 billion to its investors in profit upon exits from various investments previously under management. [15]

Investments [ edit ]

References [ edit ]

  1. ^ a b c d It is Yilun Chen, Lulu; Wang, SELENA (2020-07-08). “VC Fund Backing Firms Worth $206 Billion Eyes China Startups” . Bloomberg . Archived from the original on 2020-07-22 . Retrieved 2020-07-30 .
  2. ^ a b c “DCM Closes Latest Global Funds, at $880M” . finSMEs . 2020-07-08. Archived from the original on 2020-07-22 . Retrieved 2020-07-30 .
  3. ^ a b c “DCM Ventures raises $770 million for its early-stage, flagship, and growth funds” . 14 July 2016. Archived from the original on 17 March 2018 . Retrieved 17 March 2018 .
  4. ^ “DCM venture capitalist David Chao on unicorn reckoning, why SoFi’s different and passing up Alibaba – Silicon Valley Business Journal” . Archived from the original on 2017-02-05 . Retrieved 2018-03-17 .
  5. ^ a b Levy, ARI (21 December 2015). “This tech VC is increasingly bullish on China” . CNBC . Archived from the original on 17 March 2018 . Retrieved 17 March 2018 .
  6. ^ Kazer, William (21 November 2014). “DCM China’s Hurst Lin Takes Evangelical Approach to Investment” . Wall Street Journal . Archived from the original on 17 March 2018 . Retrieved 17 March 2018 .
  7. ^ Fannin, Rebecca. “DCM’s Deal In Korean Crowdfunding + Platform Showcases Asian Innovation” . Forbes . Archived from the original on 2018-03-17 . Retrieved 2018-03-17 .
  8. ^ Fannin, Rebecca. “Korea’s Social Messaging App Kakao Raises Bar for Tech Startups in Asia” . Forbes . Archived from the original on 2018-03-17 . Retrieved 2018-03-17 .
  9. ^ “DCM Ventures to raise $100m Android Fund III – DealStreetAsia” . www.dealstreetasia.com . Archived from the original on 2018-03-17 . Retrieved 2018-03-17 .
  10. ^ Cheng, Candy (July 2, 2021). “VC firm DCM quietly blows out its top tier competitors by generating 30x fund returns. Its secret: Not drinking the Silicon Valley ‘Kool-Aid.’ ” . Business Insider . Archived from the original on July 20, 2021 . Retrieved July 19, 2021 .
  11. ^ a b Chowdhry, which (2020-07-14). “DCM Closes $880 Million For New Funds” . Pulse 2.0 . Archived from the original on 2020-07-22 . Retrieved 2020-07-30 .
  12. ^ Geron, Tomio (2020-07-14). “WSJ PRO VENTURE CAPITAL NEWSLETTER: DCM Gathers $880 Million for Funds; How Silicon Valley Leaned on PPP; Foghorn Therapeutics Forms $425 Million Pact With Merck”. The Wall Street Journal .
  13. ^ Geron, Tomio (14 July 2016). “DCM Ventures Raises $770M for Three New Funds” . Wall Street Journal . Archived from the original on 17 March 2018 . Retrieved 17 March 2018 – via www.wsj.com.
  14. ^ Fannin, Rebecca. “New DCM and IDG Funds Show That China Still Has That Coolness Factor” . Forbes . Archived from the original on 2018-03-17 . Retrieved 2018-03-17 .
  15. ^ “DCM just raised a new $500 million fund — after returning $1.5 billion to its investors – TechCrunch” . techcrunch.com . Archived from the original on 2018-03-17 . Retrieved 2018-03-17 .

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