Venture

DCVC Targets $575 Million For Fifth Flagship Venture Fund, Filings Show

Just before regulators at the SEC went home for the weekend on Friday, Data Collective (also known as DCVC) filed a Form D indicating the firm’s intent to raise up to $575 million for DCVC V, L.P., its fifth flagship venture fund.

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It would be DCVC’s largest fund raised to date, and more than twice the size of its last fund, Data Collective IV, L.P., which closed out at $212 million in early January 2017.

Matt Ocko and Zachary Bogue, DCVC’s co-founding general partners, are listed on the filing. The filing says that no capital has yet been raised for the new legal entity, which was formed in 2018.

Established in 2011, Data Collective “invests in entrepreneurs building big data, deep compute, and IT infrastructure companies.” The firm typically makes its first investments in a startup at seed, Series A, or Series B, and frequently follows on its investments through later rounds.

DCVC’s portfolio exits include the likes of Square (IPO), Elastic (IPO), Firebase (acquired by Google), Earn.com (acquired by Coinbase), and others.

This is not the first time Crunchbase News has covered DCVC’s fund filings. Back in April 2018, we broke the news that the firm was targeting $250 million for a biotech and life sciences-focused fund, which incorporated former investment executives from Monsanto Growth Ventures.

In the case of DCVC Fund V, it’s important to keep in mind that $575 million is just a target and may be subject to change, depending on market conditions and investor interest.

Illustration: Li-Anne Dias

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