Venture capital firm DCM Ventures has closed its largest funds to date, reaching a total amount raised of $880 million.
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DCM IX, its global fund, comes out to $780 million, and its A-fund, which is meant for seed-stage investments, is at $100 million.
Some of DCM’s notable investments include Bill.com and Musical.ly (now known as TikTok). Since 2019, six of the firm’s portfolio companies have gone public, and its 2014 fund has a gross return of about 7 times, according to a statement from the firm. DCM now has $4.2 billion in assets under management.
“DCM was the first Silicon Valley firm to invest in the early-stage technology sector in China and Japan beginning in the late 90s. Since then, we’ve continued to deliver strong returns to our limited partners, while executing our global investment strategy across the three largest technology markets: U.S., China and Japan,” DCM co-founder and general partner David Chao said in a statement.
The Menlo Park, California-based firm says it plans on using the “family of funds” to invest in early-stage SaaS and vertical cloud companies, business-to-business and business-to-consumer fintech startups, and consumer internet companies. Some of DCM’s most recent investments include UJET’s Series C last month, and Siren’s Series B and Sensors Data’s Series C in May, according to Crunchbase.
Illustration: Li-Anne Dias