Venture capital firm DCM has announced the closing of DCM V, a $500-million venture fund that brings the firm's capital under management to more than $1.5 billion. The oversubscribed fund, which included the participation of virtually all existing limited partners, will continue DCM's emphasis on investing in early stage, information-technology companies in China and Japan, and US also.
"DCM's early stage investment strategy and unique access to opportunities in Asia have served our previous venture funds well, and will be the driving forces behind DCM V," said David Chao, co-founder and general partner of DCM. "We believe that the very high level of interest from returning limited partners and the speed with which this fund was closed are a genuine reflection of our achievements, and a sign of confidence that more opportunities lie ahead in the United States and throughout Asia."
"As we enter our 10th year, fund and portfolio company performances continue to improve, deal-flow quality is high and economic conditions remain solid in key industry sectors," said Dixon Doll, co-founder and general partner of DCM. "Our growing investment team, which includes the recent addition of General Partner Hurst Lin, as well as several promotions from within, will allow us to continue to expand our ability to fuel innovation among top entrepreneurs in key information-technology sectors on both sides of the Pacific."
The firm has also announced that three investment-team members have been promoted:
-Carl Amdahl has been promoted to general partner.
-Ruby Lu has been promoted to partner.
-Gen Isayama has been promoted to principal.
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