# DCM Ventures: portfolio, investments and team

> DCM Ventures is a private equity based in United States. 433 investments on record, 12 in the last 12 months, latest Aug 2026.

Source: https://millionrounds.com/fund/dcm-ventures (Millionrounds; every figure on the page links to its filing or article)

United States · [Investor](https://millionrounds.com/investors)

# DCM Ventures

Last cheque observed Aug 2026; 433 cheques on record.

Email

Deploying now New fund $711M, Jun 2021 Private equity

Seed Series A Series B Telecom Tmt App

Follow DCM Ventures and see its new cheques in your feed. [Start following](https://millionrounds.com/login?join=1&why=follow&next=%2Ffund%2Fdcm-ventures)

Deploying now

**92%** of best year **12** **cheques in 12 months**, 433 on record

Since the last cheque **91** days **00** hrs **00** min **00** sec

Median round **$16M** Cheque size, as they say **$250K – $15M** Rounds led **6 of 433** Sole investor **56 rounds** Exits **38 from the portfolio** Mostly in **United States, 57%**

Pitch DCM Ventures

## DCM Ventures highlights

- 01 12 cheques in the last 12 months
- 02 Mostly Series A and Series B: 57% of its rounds
- 03 Sole investor in 56 rounds, median $5.0M
- 04 38 exits from the portfolio

## What they do

> We back the rebels|relentless|resourceful and the founders we partner with From their own website

- **Type:** Private equity (from a list, unverified)
- **Cheque size:** $250K – $15M as they say
- **Stages:** Seed Series A Series B Growth Pre-IPO
- **Sectors:** Telecom Tmt App
- **Based in:** Menlo Park, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **433 appearances**

- **2026** 11 rounds
- **Aug** **[HERP](https://millionrounds.com/company/herp)** Series C · JP **$12M** With 3 others
- **Jul** **[Kaon](https://millionrounds.com/company/kaon)** Series B · US **$60M** With 4 others
- **Jun** **[Trovy](https://millionrounds.com/company/trovy)** Series A · US · TechStartups **$15M** With 4 others
- **Jun** **[Urtopia](https://millionrounds.com/company/urtopia)** Series B · HK **$29M** Sole investor
- **May** **[Musely](https://millionrounds.com/company/musely)** Debt · TechCrunch **$360M** With 5 others
- **Apr** **[TextQL](https://millionrounds.com/company/textql)** US · Ventureburn **$17M** With 5 others
- **Apr** **[Genki Robotics](https://millionrounds.com/company/genki-robotics)** Venture · JP **Undisclosed** With 2 others
- **Mar** **[UniUni](https://millionrounds.com/company/uniuni)** Debt · CA **$55M** With 2 others
- **Jan** **[Route-D](https://millionrounds.com/company/route-d)** Venture · JP **$2.1M** Sole investor
- **Jan** **[Enechain](https://millionrounds.com/company/enechain)** Series B · JP **$33M** With 4 others
- **Jan** **[Qingbo Exploration](https://millionrounds.com/company/qingbo-exploration)** Venture **Undisclosed** With 1 other
- **2025** 10 rounds
- **Nov** **[ExploMar](https://millionrounds.com/company/explomar)** Series A **$10M** Sole investor
- **Oct** **[CraftBank](https://millionrounds.com/company/craftbank)** Series B · JP **$15M** With 5 others
- **Aug** **[StreamNative](https://millionrounds.com/company/streamnative)** Venture · US **Undisclosed** With 3 others
- **Jul** **[TextQL](https://millionrounds.com/company/textql)** Venture · US **Undisclosed** With 3 others
- **Jun** **[HUAUN](https://millionrounds.com/company/huaun)** Venture **Undisclosed** With 1 other
- **May** **[Nok Nok Labs](https://millionrounds.com/company/nok-nok-labs)** Venture · US **$11M** Sole investor
- **Apr** **[10x](https://millionrounds.com/company/10x)** Venture · JP **$15M** With 4 others
- **Apr** **[BentoML](https://millionrounds.com/company/bentoml)** Series A · US **$10M** With 2 others
- **Feb** **[Lingopal](https://millionrounds.com/company/lingopal)** Series A · US **$14M** With 1 other
- **Feb** **[FancyTech](https://millionrounds.com/company/fancytech)** Series B **$10M** With 2 others
- **2024** 7 rounds
- **Nov** **[Eaze](https://millionrounds.com/company/eaze)** Series B · US **$10M** With 3 others
- **Nov** **[Scannable](https://millionrounds.com/company/scannable)** Seed · NZ **$3.0M** With 1 other
- **Sept** **[M2X](https://millionrounds.com/company/m2x)** Series A · NZ **$2.1M** Sole investor
- **Aug** **[Reforged Labs](https://millionrounds.com/company/reforged-labs)** Seed · US **$3.9M** With 3 others
- **Jul** **[Urtopia](https://millionrounds.com/company/urtopia)** Series A · HK **$10M** Sole investor
- **Mar** **[Figure Markets](https://millionrounds.com/company/figure-markets)** Series A · US **$60M** With 5 others
- **Feb** **[Kaon](https://millionrounds.com/company/kaon)** Seed · US **$10M** With 1 other
- **2023** 8 rounds
- **Oct** **[Theta Labs](https://millionrounds.com/company/theta-labs)** Venture · US **Undisclosed** With 5 others
- **Sept** **[Eversteel](https://millionrounds.com/company/eversteel)** Seed · JP **$1.3M** Sole investor
- **Aug** **[Cyclone Robotics](https://millionrounds.com/company/cyclone-robotics)** Series C **$40M** With 3 others
- **Jun** **[BentoML](https://millionrounds.com/company/bentoml)** Seed · US **$6.0M** With 2 others
- **May** **[OpenArt](https://millionrounds.com/company/openart)** Seed · US **$5.0M** With 2 others
- **Apr** **[Microengine Technology](https://millionrounds.com/company/microengine-technology)** Seed **$15M** Sole investor
- **Mar** **[Qingyue Technology](https://millionrounds.com/company/qingyue-technology)** Venture **Undisclosed** With 1 other
- **Feb** **[Heisenberg Robotics](https://millionrounds.com/company/heisenberg-robotics)** Crowdfunding **$2.3M** Sole investor
- **2022** 7 rounds
- **Dec** **[Weekend Health](https://millionrounds.com/company/weekend-health)** Series A · US **$20M** Sole investor
- **Oct** **[imBee](https://millionrounds.com/company/imbee)** Series A · HK **$5.0M** Sole investor
- **Sept** **[Cherry](https://millionrounds.com/company/cherry)** Series B · US **$44M** With 3 others
- **Jul** **[Puff Gogo](https://millionrounds.com/company/puff-gogo)** Series C **$20M** With 1 other

An announcement gives the size of the round, not the size of this investor's cheque: the only rounds that imply a cheque are those where they were the sole named investor.

## The team

Named by the firm itself, on a filing, its Form ADV or its company registration **9 named**

AC **Andre C Levi** Director of the General Partner of the General Partner i Filing they signed

FH **Frank Hurst Lin** Partner i Form ADV

JD **Jason David Krikorian** Director i Filing they signed

KD **K David Chao** Director i Filing they signed

KD **K. David Chao** Director of the general partner of the general partner. i Filing they signed

MC **Matthew C. Bonner** Director of the General Partner of the General Partner i Filing they signed

OH **Osuke Honda** Partner i Form ADV

PW **Peter W. Moran** Director of the general partner of the general partner. i Filing they signed

ZZ **Zhenyu Zeng** Partner i Form ADV

We also hold **43** people at this firm from the lists this database was built from: a weaker source than the filings, since a list does not say when a title ended. Login to see them.

## What the register says

From the firm's own filings with the SEC, which it must file accurately by law

**$2.7B** gross assets of its funds Oct 2026

**Exempt** reporting adviser venture or small private funds

- **Legal name:** DCM Management, L.P.
- **SEC number:** CRD 160285

Who backs their funds

## 1 LP on record in DCM Ventures's funds

- **Committed:** $15M
- **Funds:** 1
- **Vintages:** 2004

The institutions that put money into its funds, which the firm then invests in companies. Source: the pension's own report, latest Jun 2025.

- [**California State Teachers Retirement System** 1 fund *$15M*](https://millionrounds.com/fund/california-state-teachers-retirement-system) Fund Vintage Committed DCM IV 2004 $15M

## What they claim to have backed

From their own portfolio page (on their website)

**10** of 17 we have independently watched raise

[Coffeemeetsbagel](https://millionrounds.com/company/coffee-meets-bagel)[Evenuplaw](https://millionrounds.com/company/evenup)[Figure](https://millionrounds.com/company/figure)[Figuremarkets](https://millionrounds.com/company/figure-markets)[Fubo](https://millionrounds.com/company/fubotv)[Life360](https://millionrounds.com/company/life360)[Matterport](https://millionrounds.com/company/matterport)[Picsart](https://millionrounds.com/company/picsart)[Plenty](https://millionrounds.com/company/plenty)[Sofi](https://millionrounds.com/company/sofi) Bill Gigacloudtech Hims Investor Portal Kuaishou Teamblind Withcherry

Weaker than a round we watched, stronger than a list somebody sold us. A firm is far less willing to put a company on its own site that it never funded.

## Exits from the portfolio

Companies it backed that were later bought or listed **38 in all**

**[Art19](https://millionrounds.com/company/art19)** Bought by [Amazon](https://millionrounds.com/fund/amazon) **Undisclosed** Jun 2021

**[Wrike](https://millionrounds.com/company/wrike)** Bought by [Citrix](https://millionrounds.com/fund/citrix) **Undisclosed** Mar 2021

**[Ustream](https://millionrounds.com/company/ustream)** Bought by [Ibm](https://millionrounds.com/fund/ibm) **Undisclosed** Jan 2016

**[1 Mainstream](https://millionrounds.com/company/1-mainstream)** Bought by [Cisco](https://millionrounds.com/fund/cisco) **Undisclosed** Oct 2015

**[BridgeLux](https://millionrounds.com/company/bridgelux)** Bought by China Electronics Corporation (CEC) **Undisclosed** Jul 2015

**[99Bill](https://millionrounds.com/company/99bill)** Bought by WANDA Group **Undisclosed** Dec 2014

**[Zenverge](https://millionrounds.com/company/zenverge)** Bought by [Freescale Semiconductor](https://millionrounds.com/fund/nxp-semiconductors) **Undisclosed** Dec 2014

**[Appia](https://millionrounds.com/company/appia)** Bought by [Digital Turbine](https://millionrounds.com/fund/digital-turbine) **$100M** Nov 2014

**[Cortina Systems](https://millionrounds.com/company/cortina-systems)** Bought by INPHI **$131M** Oct 2014

**[Vendavo](https://millionrounds.com/company/vendavo)** Bought by [Francisco Partners](https://millionrounds.com/fund/francisco-partners) **Undisclosed** Oct 2014

**[Slice](https://millionrounds.com/company/slice)** Bought by [Rakuten](https://millionrounds.com/fund/rakuten) **Undisclosed** Aug 2014

**[Caring.com](https://millionrounds.com/company/caring-com)** Bought by Bankrate **$54M** May 2014

**[PlayFirst](https://millionrounds.com/company/playfirst)** Bought by [Glu Mobile](https://millionrounds.com/fund/glu-mobile) **Undisclosed** May 2014

**[Jaspersoft](https://millionrounds.com/company/jaspersoft)** Bought by TIBCO Software Inc. **$185M** Apr 2014

**[Green Throttle Games](https://millionrounds.com/company/green-throttle-games)** Bought by [Google](https://millionrounds.com/fund/google-assistant-investments) **Undisclosed** Mar 2014

**[Basis Science](https://millionrounds.com/company/basis-science)** Bought by [Intel](https://millionrounds.com/fund/intel) **$100M** Mar 2014

**[58.com](https://millionrounds.com/company/58-com)** Listed **Undisclosed** Oct 2013

**[Kanbox](https://millionrounds.com/company/kanbox)** Bought by [Alibaba](https://millionrounds.com/fund/alibaba) **Undisclosed** Sept 2013

**[Loki Studios](https://millionrounds.com/company/loki-studios)** Bought by [Yahoo!](https://millionrounds.com/fund/yahoo) **Undisclosed** May 2013

**[Outspark](https://millionrounds.com/company/outspark)** Bought by gamigo **Undisclosed** Feb 2013

The latest 20 here. An exit counts when it came after the firm's first round in the company. From historical deal records.

New fund on file

**$711M**

raised in Jun 2021

From its SEC filing, not a journalist: a firm that has just raised has money to deploy.

## The cheque

Seed Series A Series B

Median round joined **$16M** the round, not its cheque Alone, median **$5.0M**

Led 6 of 433 rounds **1%**

- **Said size:** $250K – $15M
- **Sole investor:** 56 rounds
- **Last cheque:** Aug 2026
- **Exits:** 38 from the portfolio

Rounds by stage said on their site

- Series A said *104*
- Series B said *104*
- Series C *66*
- Venture *50*
- Seed said *38*
- Growth said *-*
- Pre-IPO said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [M Ventures](https://millionrounds.com/fund/m-ventures) 24
- [Norwest Venture Partners](https://millionrounds.com/fund/norwest) 14
- [Mayfield Fund](https://millionrounds.com/fund/mayfield) 13
- [Sequoia Capital](https://millionrounds.com/fund/sequoia-capital) 13
- [Emergence](https://millionrounds.com/fund/emergence-capital-partners) 11
- [Legend Capital](https://millionrounds.com/fund/legend-capital) 11

**Pitching DCM Ventures?** Put them on your fundraising board with this record on the card, and follow them to hear when they write a new cheque.

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## Who they invest alongside

The investors most often in the same rounds as DCM Ventures. A count of rooms they were both in, not a relationship either has claimed.

[**M Ventures** Corporate VC **24** rounds together](https://millionrounds.com/fund/m-ventures)[**Norwest Venture Partners** VC firm **14** rounds together](https://millionrounds.com/fund/norwest)[**Mayfield Fund** VC firm **13** rounds together](https://millionrounds.com/fund/mayfield)[**Sequoia Capital** VC firm **13** rounds together](https://millionrounds.com/fund/sequoia-capital)[**Emergence** VC firm **11** rounds together](https://millionrounds.com/fund/emergence-capital-partners)[**Legend Capital** VC firm **11** rounds together](https://millionrounds.com/fund/legend-capital)[**Lightspeed Venture Partners** VC firm **11** rounds together](https://millionrounds.com/fund/lightspeed-venture-partners)[**Redpoint** VC firm **10** rounds together](https://millionrounds.com/fund/redpoint)[**El Dorado Ventures** VC firm **9** rounds together](https://millionrounds.com/fund/el-dorado-ventures)[**Morgenthaler Ventures** VC firm **9** rounds together](https://millionrounds.com/fund/morgenthaler)[**Partech Ventures** VC firm **9** rounds together](https://millionrounds.com/fund/partech)[**Trinity Ventures** VC firm **9** rounds together](https://millionrounds.com/fund/trinity-ventures)

## Recently backed

The latest companies DCM Ventures put money into.

[**Kaon** $60M · Jul 2026](https://millionrounds.com/company/kaon)[**Trovy** $15M · Jun 2026](https://millionrounds.com/company/trovy)[**Musely** $360M · May 2026](https://millionrounds.com/company/musely)[**TextQL** $17M · Apr 2026](https://millionrounds.com/company/textql)[**Genki Robotics** Apr 2026](https://millionrounds.com/company/genki-robotics)[**UniUni** $55M · Mar 2026](https://millionrounds.com/company/uniuni)

## Mentioned on podcasts

Episodes that name DCM Ventures in their description, not their title.

- [Growth Investor](https://millionrounds.com/podcasts/growth-investor) 22 Mar 2023 · 23 min Transforming The Hiring Process At Scale: Fountain’s CEO Sean Behr With [Sean Behr](https://millionrounds.com/person/sean-behr) Mentions [B Capital](https://millionrounds.com/fund/b-capital)[DCM Ventures](https://millionrounds.com/fund/dcm-ventures)[Y Combinator](https://millionrounds.com/fund/y-combinator) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 5 Aug 2016 · 20 min 20VC: Turning Down Apple & Getting Funded By Chamath @ Social Capital with Dhananja Jayalath, Co-Founder & CEO @ Athos Mentions [DCM Ventures](https://millionrounds.com/fund/dcm-ventures)[Felix Capital](https://millionrounds.com/fund/felix-capital) Apple PodcastsShow page
- [The Twenty Minute VC](https://millionrounds.com/podcasts/20vc) 23 Feb 2015 · 20 min 20 VC 014: Acquired by Salesforce turned VC with Kyle Lui With [Kyle Lui](https://millionrounds.com/person/kyle-lui) Mentions [DCM Ventures](https://millionrounds.com/fund/dcm-ventures) Apple PodcastsShow page

## Quick answers about DCM Ventures

### What does DCM Ventures invest in?

DCM Ventures invests most often at Series A and Series B (57% of the rounds on record), in sectors such as Telecom, Tmt and App.

### How active is DCM Ventures?

433 investments on record, 12 of them in the last 12 months, and it led 6. The most recent was in Aug 2026.

### What has DCM Ventures invested in recently?

Its most recent investments on record: HERP (Series C, Aug 2026), Kaon (Series B, Jul 2026) and Trovy (Series A, Jun 2026).

### How big are DCM Ventures's cheques?

The median round it joins is $16M. It says it writes cheques of $250K to $15M.

### Does DCM Ventures lead rounds?

Sometimes: it led 6 of its 433 investments on record (1%).

### Where does DCM Ventures invest?

Most of the companies it backs are in the United States (57%), Japan (23%) and Hong Kong SAR China (10%).

### Is DCM Ventures investing now?

Yes: it is actively investing, with 12 investments in the last 12 months.

### Who does DCM Ventures invest alongside?

Most often M Ventures (24 rounds together), Norwest Venture Partners (14 rounds together) and Mayfield Fund (13 rounds together).

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