# DHVC: portfolio, investments and team

> DHVC is a vc firm based in United States. 75 investments on record, latest Jun 2025. Portfolio, stages, co-investors and team.

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

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

# DHVC

Last cheque observed Jun 2025. Silence since then is not evidence of inactivity: our sources miss unannounced rounds.

Quiet VC firm

Growth Pre-seed Seed AI & Machine Learning Advanced Materials Artificial Intelligence & Machine Learning (AI/ML)

Cheques on record

**0%** of best year **0** **cheques in 12 months**, 75 on record

Since the last cheque **512** days **00** hrs **00** min **00** sec

Median round **$11M** Rounds led **0 of 75** Sole investor **7 rounds** Mostly in **United States, 66%**

Pitch DHVC

## DHVC highlights

- 01 75 rounds on record
- 02 Mostly Venture and Series A: 65% of its rounds
- 03 Sole investor in 7 rounds, median $3.0M

## What they do

- **Type:** VC firm (from a list, unverified)
- **Cheque size:** Not stated
- **Stages:** Growth Pre-seed Seed Series A Series B
- **Sectors:** AI & Machine Learning Advanced Materials Artificial Intelligence & Machine Learning (AI/ML)
- **Based in:** Palo Alto, United States
- **Cold pitches:** Not stated

## The record

Every round we can evidence, newest first **75 appearances**

- **2025** 2 rounds
- **Jun** **[IOST](https://millionrounds.com/company/iost)** Venture · SG **$21M** With 4 others
- **Jan** **[Deepwise](https://millionrounds.com/company/deepwise)** Venture **$69M** With 2 others
- **2024** 9 rounds
- **Dec** **[Dtravel](https://millionrounds.com/company/dtravel)** Venture · KY **Undisclosed** With 3 others
- **Nov** **[MoneyLion](https://millionrounds.com/company/moneylion)** Debt · US **$70M** With 5 others
- **Jul** **[TOPGOAL](https://millionrounds.com/company/topgoal)** Venture **Undisclosed** Sole investor
- **Jun** **[Ink Finance](https://millionrounds.com/company/ink-finance)** Seed · SG **$5.0M** With 4 others
- **May** **[Fantom Foundation](https://millionrounds.com/company/fantom-foundation)** Venture **$10M** With 3 others
- **May** **[Amino](https://millionrounds.com/company/amino)** Venture · US **$10M** With 3 others
- **Mar** **[Meson Network](https://millionrounds.com/company/meson-network)** Venture · SG **Undisclosed** With 3 others
- **Mar** **[Polyhedra Network](https://millionrounds.com/company/polyhedra-network)** Series A · SG **$20M** With 2 others
- **Jan** **[Swift Medical](https://millionrounds.com/company/swift-medical)** Venture · CA **$8.0M** With 5 others
- **2023** 7 rounds
- **Nov** **[CasiVision Technology](https://millionrounds.com/company/casivision-technology)** Venture **Undisclosed** With 1 other
- **Nov** **[Unite Genomics](https://millionrounds.com/company/unite-genomics)** Venture · US **$2.0M** With 1 other
- **Oct** **[Theta Labs](https://millionrounds.com/company/theta-labs)** Venture · US **Undisclosed** With 5 others
- **Oct** **[Darmiyan](https://millionrounds.com/company/darmiyan)** Venture · US **$3.5M** With 3 others
- **Jun** **[TensorOpera](https://millionrounds.com/company/tensoropera)** Seed · US **$13M** With 2 others
- **May** **[Lifeform](https://millionrounds.com/company/lifeform)** Venture · US **Undisclosed** With 5 others
- **Jan** **[Rizhiyi](https://millionrounds.com/company/rizhiyi)** Venture **Undisclosed** With 2 others
- **2022** 12 rounds
- **Nov** **[Ping](https://millionrounds.com/company/ping)** Seed · US **$15M** With 2 others
- **Nov** **[Overeality](https://millionrounds.com/company/overeality)** Venture · US **Undisclosed** With 1 other
- **Sept** **[Bitquery](https://millionrounds.com/company/bitquery)** Seed · US **$8.5M** With 2 others
- **Aug** **[Ankr](https://millionrounds.com/company/ankr)** Venture · US **Undisclosed** With 3 others
- **Jun** **[MachineFi Lab](https://millionrounds.com/company/machinefi-lab)** Seed · US **$10M** With 3 others
- **Jun** **[InfStones](https://millionrounds.com/company/infstones)** Series C · US **$66M** With 5 others
- **Jun** **[Carbon Biosciences](https://millionrounds.com/company/carbon-biosciences)** Series A · US **$38M** With 3 others
- **May** **[Bitget Wallet](https://millionrounds.com/company/bitget-wallet)** Series A · KY **$15M** With 2 others
- **May** **[Firework](https://millionrounds.com/company/firework)** Series B · US **$150M** With 5 others
- **Jan** **[Banyan Security](https://millionrounds.com/company/banyan-security)** Series B · US **$30M** With 3 others
- **Jan** **[Origin](https://millionrounds.com/company/origin)** Seed · GB **$5.0M** With 6 others
- **Jan** **[Cosmos Network](https://millionrounds.com/company/cosmos-network)** Venture · CH **Undisclosed** With 3 others
- **2021** 6 rounds
- **Sept** **[ApplePie Capital](https://millionrounds.com/company/applepie-capital)** Venture · US **$6.5M** With 2 others
- **Sept** **[Cobo](https://millionrounds.com/company/cobo)** Series B · SG **$40M** With 2 others
- **Sept** **[Deep Vision](https://millionrounds.com/company/deepvision)** Series B · US **$35M** With 2 others
- **Sept** **[Datapps](https://millionrounds.com/company/datapps)** Venture **Undisclosed** With 1 other
- **Apr** **[Hedera Hashgraph](https://millionrounds.com/company/hedera-hashgraph)** Venture **$1.5M** With 1 other
- **Apr** **[Symbiont](https://millionrounds.com/company/symbiont)** Venture **Undisclosed** With 3 others
- **2020** 1 round
- **Dec** **[STIMIT](https://millionrounds.com/company/stimit)** Venture **$21M** With 1 other
- **2019** 10 rounds
- **Nov** **[Hypernet Labs](https://millionrounds.com/company/hypernet-labs)** US · VentureBeat **$10M** With 5 others
- **Nov** **[Bigstream](https://millionrounds.com/company/bigstream)** Series A **$19M** With 3 others
- **Nov** **[Linkingmed](https://millionrounds.com/company/linkingmed)** Series A **$370K** Sole investor

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 **1 named**

AG **Anjia Gu** Managing Member i Form ADV

We also hold **9** 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

**$538M** gross assets of its funds Oct 2026

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

- **Legal name:** Danhua Capital Management, LLC
- **SEC number:** CRD 170108

## The cheque

Growth Pre-seed Seed

Median round joined **$11M** the round, not its cheque Alone, median **$3.0M**

Led 0 of 75 rounds **0%**

- **Sole investor:** 7 rounds
- **Last cheque:** Jun 2025

Rounds by stage said on their site

- Venture *28*
- Series A said *16*
- Seed said *13*
- Series B said *9*
- Series C *2*
- Growth said *-*
- Pre-seed said *-*

Cheques by month Led Joined

Nov 2023 Oct 2026

Often in the room with

- [Digital Currency Group](https://millionrounds.com/fund/digital-currency-group) 4
- [Hashed](https://millionrounds.com/fund/hashed) 4
- [Plug and Play](https://millionrounds.com/fund/plug-and-play) 4
- [Sierra Ventures](https://millionrounds.com/fund/sierra-ventures) 4
- [Y Combinator](https://millionrounds.com/fund/y-combinator) 4
- [YZi Labs](https://millionrounds.com/fund/yzi-labs) 4

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## Who they invest alongside

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

[**Digital Currency Group** VC firm **4** rounds together](https://millionrounds.com/fund/digital-currency-group)[**Hashed** VC firm **4** rounds together](https://millionrounds.com/fund/hashed)[**Plug and Play** Accelerator **4** rounds together](https://millionrounds.com/fund/plug-and-play)[**Sierra Ventures** VC firm **4** rounds together](https://millionrounds.com/fund/sierra-ventures)[**Y Combinator** Accelerator **4** rounds together](https://millionrounds.com/fund/y-combinator)[**YZi Labs** VC firm **4** rounds together](https://millionrounds.com/fund/yzi-labs)[**Accel** VC firm **3** rounds together](https://millionrounds.com/fund/accel)[**Foresight Ventures** Accelerator **3** rounds together](https://millionrounds.com/fund/foresight-ventures)[**HSG** VC firm **3** rounds together](https://millionrounds.com/fund/hsg)[**IDG Capital** Private equity **3** rounds together](https://millionrounds.com/fund/idg-capital)[**NGC Ventures** VC firm **3** rounds together](https://millionrounds.com/fund/ngc-ventures)[**New Enterprise Associates** VC firm **3** rounds together](https://millionrounds.com/fund/new-enterprise-associates)

## Recently backed

The latest companies DHVC put money into.

[**IOST** $21M · Jun 2025](https://millionrounds.com/company/iost)[**Deepwise** $69M · Jan 2025](https://millionrounds.com/company/deepwise)[**Dtravel** Dec 2024](https://millionrounds.com/company/dtravel)[**MoneyLion** $70M · Nov 2024](https://millionrounds.com/company/moneylion)[**Ink Finance** $5.0M · Jun 2024](https://millionrounds.com/company/ink-finance)[**Amino** $10M · May 2024](https://millionrounds.com/company/amino)

## Quick answers about DHVC

### What does DHVC invest in?

DHVC invests most often at Venture and Series A (65% of the rounds on record), in sectors such as AI & Machine Learning, Advanced Materials and Artificial Intelligence & Machine Learning (AI/ML).

### How active is DHVC?

75 investments on record, 0 of them in the last 12 months. The most recent was in Jun 2025.

### What has DHVC invested in recently?

Its most recent investments on record: IOST (Venture, Jun 2025), Deepwise (Venture, Jan 2025) and Dtravel (Venture, Dec 2024).

### How big are DHVC's cheques?

The median round it joins is $11M.

### Does DHVC lead rounds?

Rarely, if at all: none of its 75 investments on record names it as the lead.

### Where does DHVC invest?

Most of the companies it backs are in the United States (66%), Singapore (17%) and Cayman Islands (7%).

### Is DHVC investing now?

No investments in the last 12 months; the latest was in Jun 2025.

### Who does DHVC invest alongside?

Most often Digital Currency Group (4 rounds together), Hashed (4 rounds together) and Plug and Play (4 rounds together).

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Built from the rounds we watched, its filings and its own website, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections?slug=dhvc) · [Is this your firm? Claim it](https://millionrounds.com/claim?org=dhvc)