DCM, an early stage venture capital firm investing globally, promoted Kyle Lui in the U.S. and Ray Zhao in China, to Partner.
With these new additions, DCM now has seven partners across its three geographic locations in China, the U.S., and Japan.
Before joining DCM in 2014, Lui was co-founder and CEO of ChoicePass which was acquired by SalesForce. At DCM, Lui has focused on early stage consumer internet, enterprise software and financial technology investments. During 2018, he was deeply involved with three exits: BitTorrent, Wrike and Tapingo. During his time at DCM, Lui has also been an early investor in tech companies, including Lime. In 2014, he sourced Eaze, where DCM led the seed and Series A rounds, becoming the first Silicon Valley firm to invest in the cannabis technology space.
As Partner, Lui will further tap his international experience and pursue investments in next generation financial services, micro-mobility & future of urbanization and vertical SaaS.
Zhao, who joined DCM in 2014, has more than 10 years of investing experience. Before joining DCM, Zhao worked at Tencent Investment, where he worked on a variety of investments from early-stage to late-stage companies, from both strategic and financial perspectives. Before joining Tencent, he worked as a venture capital investor at Ventech Capital and an investment banker at China Renaissance. Most recently, Zhao sourced and was involved with DCM’s early investment in Houchebang (now ManBang), which SoftBank Vision Fund invested at a $6 billion valuation. Other key investments include BestSign, TKing, ZhaoYou and YaoShiBang.
As Partner, Zhao will continue to focus on B2B software and marketplace investments.
Founded in 1996 by David Chao and Dixon Doll, DCM is a global venture capital firm based in Silicon Valley, Beijing, and Tokyo with nearly $4 billion under management. DCM has invested in more than 300 early stage technology companies across the United States and Asia, and provides hands-on operational guidance and a global network of business and financial resources. It has backed companies including 51job, 51Talk, 58.com, BitAuto, Dangdang, Fortinet, Happy Elements, Houchebang (ManBang), Musical.ly, Kakao Talk, Sling Media, TanTan, Tuniu, Vipshop, UCloud and Uxin. DCM has also invested in exciting, up and coming startups such as Lime, SoFi, Bill.com, Careem, Eaze, FiveStars, FreedomPop, FuboTV, DerbySoft, DXY, Freee, Kuaishou and SanSan.
In addition to Lui and Zhao, general partners include Chao, Osuke Honda, Jason Krikorian, Hurst Lin, and Ramon Zeng.