DCM Ventures, an early stage global venture capital firm, closed its eighth flagship fund, at $500m.
Backed by return and new strategic limited partners including global mobile and internet giants Baidu, Gree, Naver, SoftBank, Tencent, and Qualcomm, DCM VIII will be invested in early stage companies across the United States, China and Japan in such sectors as digital media, software-as-a-service, fintech, e-commerce, as well as newer platforms such as virtual reality, automated drone technology and artificial intelligence.
With the new fund, DCM Ventures has now raised $770m in new commitments over the past 18 months for its global family of funds including $500m for DCM VIII, $170m for its Turbo Fund primarily focused on growth stage deals, and $100m for its second A-Fund primarily focused on seed stage investments across mobile and emerging platforms.
Led by David Chao, co-founder and general partner, Jason Krikorian general partner, Hurst Lin, general partner DCM Ventures China, and Ramon Zeng, DCM Ventures has invested in more than 200 technology companies across the United States and Asia, including 51job (NASDAQ: JOBS), 51Talk (NASDAQ, COE), 58.com (NYSE: WUBA), About.com (Acquired by The NY Times Company), BitAuto (NYSE: BITA), Clearwire (NASDAQ: CLWR), Dangdang (NYSE: DANG), eDreams, Fortinet (NASDAQ: FTNT), Happy Elements, Kabu.com (TSE: 8703), Kakao Talk (KOSDAQ 035720), Renren (NYSE: RENN), SandForce (Acquired by LSI), Sling Media (Acquired by EchoStar), SMIC (NYSE: SMI), StarFlyer (TSE: 9206), Tuniu (Nasdaq:TOUR), VanceInfo (NYSE:VIT), Vipshop (NYSE: VIPS), Bill.com, DerbySoft, DXY, Eaze.com, FiveStars, FreedomPop, Freee, FuboTV, FXiaoke, Kuaishou, Musical.ly, Sansan, Sofi, TanTan, Ucloud, and YouXinpai. The firm also provides operational guidance and a global network of business and financial resources.
The firm, which also provides operational guidance and a global network of business and financial resources, is based in Menlo Park, CA, Beijing, and Tokyo. It has more than $3 billion under management.