DCM announced it has closed Fund VII with $330 million in commitments. The firm makes early-stage bets in the United States, China and Japan, and is an investor in such U.S.-listed Chinese companies as 58.com, Renren and Vipshop. The firm didn’t disclose investors in the new fund, but limited partners in Fund VI include Kentucky Retirement System and Los Angeles Fire and Police Pension System, according to Thomson Reuters. DCM raised $400 million for its previous fund, which closed in 2009. Thomson Reuters data also shows that the firm raised $250 million for DCM China Ventures Fund (DCM VII) in 2013 and $100 million for its Android Fund in 2011.
DCM Closes DCM Fund VII with $330 Million in Commitments
DCM Doubles Down on Fruitful Global Strategy that Yielded $20 Billion in Market Cap Since 2009
MENLO PARK, Calif. March 6, 2014–DCM, a global venture capital firm investing in early stage technology companies in the U.S., China, and Japan, announced today it has closed DCM Fund VII, its most recent early stage venture fund with $330 million in commitments. DCM now manages over $2.5 Billion across several funds.
“DCM continues to gain momentum because of our differentiated global investment strategy, and we believe that the next 18 months will feature a continued string of successful exits for our portfolio companies,” said David Chao, co-founder and General Partner at DCM. General Partner Jason Krikorian added, “We’re positioned extremely well for the next technology cycle as transformative forces like the Internet of things and global mobile adoption accelerate opportunities on both sides of the Pacific Rim.”
Consistent with previous funds, DCM Fund VII will be dedicated to investments in DCM’s core sectors that include mobile, digital media, ecommerce, and consumer and enterprise services, across three key geographies: the U.S., China and Japan. DCM’s strategy to invest in the world’s three largest economies and technology markets has spawned multiple category defining companies. Since 2009, 15 DCM portfolio companies have had successful exit events with an aggregate market capitalization of over $20 Billion. Companies from all three of DCM’s core geographies are represented, including 58.com, BitAuto, Dangdang, Fortinet, Pokelabo, Renren, SandForce, and Vipshop.
Eric Shen, co-founder, Chairman, and CEO of Vipshop (NYSE: VIPS) – one of DCM’s most successful portfolio companies – commented, “We were fortunate to have DCM invest in us at such an early stage. Over time, DCM helped us recruit key members of our management team, and they were immensely helpful at the most critical moments leading up to our IPO.”
DCM is an early stage venture capital firm based in Silicon Valley, Beijing, and Tokyo with more than $2.5 billion under management. DCM has invested in more than 200 technology companies across the United States and Asia, and provides hands-on operational guidance and a global network of business and financial resources. DCM has backed industry leading companies such as 51job (NASDAQ: JOBS), 58.com (NYSE: WUBA), About.com (Acquired by the NY Times Company), BitAuto (NYSE: BITA), Clearwire (NASDAQ: CLWR), Dangdang (NYSE: DANG), eDreams (Acquired by TA), Fortinet (NASDAQ: FTNT), Foundry Networks (NASDAQ: FDRY), Kabu.com (TSE: 8703), Luxin (SZSE: 002565), PGP Corporation (Acquired by Symantec), Pokelabo (Acquired by Gree), Renren (NYSE: RENN), SandForce (Acquired by LSI), Sling Media (Acquired by EchoStar), SMIC (NYSE: SMI), StarFlyer (TSE: 9206), VanceInfo (NYSE: VIT, currently NYSE: PACT), and Vipshop (NYSE: VIPS). DCM also invested in exciting, upcoming startups such as Analogix, Arrayent, Bill.com, BitTorrent, Kakao, Happy Elements, SoFi, Tuniu, and Youxinpai.
Take your pick!
- Buyouts delivers exclusive news and analysis about private equity deals, fundraising, top-quartile managers and more. Get your FREE trial or subscribe now.
- VC Journal provides exclusive news and analysis about venture capital deals, fundraising, top-quartile investors and more. Get your FREE trial or subscribe now.