Firms, funds, partners, companies and rounds from sworn filings, firm sites and announcements, kept as a graph with a date and a source on every edge. Facts, inferences and estimates are labelled as such. A fund target is never a close, GAV is never dry powder, and a round size is never an investor’s check.

Firms / DN Capital (US), Inc

DN Capital (US), Inc

Institutional venture firmMenlo Park, CAdncapital.comSEC venture capital fund adviser

DN Capital is a global early-stage venture firm, with an experienced team passionate about technology and working with exceptional entrepreneurs. Founded in 2000 by Nenad Marovac and Steve Schlenker, DN Capital is now one of Europe’s most established VC funds.

venture manager, reported GAV $789M across 10 vehicles

Importance
36
elevated
Active deployment
29
moderate
Emerging
0
low
Completeness
81
high
Freshness
100
high
Research priority
11
low
Identity and regulatory footprint
Headquarters
Park City, UTadviserinfo.sec.gov
Office address
3867 PINNACLE SKY LOOP, Park City, UT, 84098adviserinfo.sec.gov
Business phone
650-561-9300adviserinfo.sec.gov
Website
HTTP://WWW.DNCAPITAL.COM
SEC adviser type
exempt reporting adviseradviserinfo.sec.gov
SEC exemption claimed
venture capital fund adviseradviserinfo.sec.govItem 2.B(1): advises solely venture capital funds
Latest Form ADV
Mar 31, 2026
Private funds reported
11 (11 venture capital funds)adviserinfo.sec.gov
Private fund gross assets
$866Madviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
Owners on Schedule A
DN Capital (uk) LLP (Owner), E
business phone
650-561-9300adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
1 observed deals
Stated (the firm’s website)
Sectors
ai, fintech, consumer, marketplaces, energy, media
Stages
seed, series a, series b, growth, early, multi stage
Geography
europe, germany, global, globally, north america, uk
Check size
not stated; DFX does not estimate checks from round sizes
Self-described
venture capital
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
unknown 100%
lead rate n/afollow-on rate n/anew logos, 12 months 1
Funds and vehicles
10 reported, 1 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
DN Capital - Global Venture Capital VI ScspFund2024 adv first reportedEarly deployment$18.4M
Mar 27, 2024
28unknownunknown
DN Capital Identity Spv LPSPV or co-invest vehicle2022 adv first reportedActive deployment$7.6M
Mar 27, 2024
4unknownunknown
DN Capital Gvc V Seed LPSeed fund2022 adv first reportedActive deployment$1.8M
Mar 27, 2024
7unknownunknown
DN Capital - Global Venture Capital V ScspFund2021 adv first reportedMature$263M
Mar 27, 2024
121$0May 12, 2020
DN Capital Gvc IV Labour Spv LPSPV or co-invest vehicle2021 adv first reportedMature$42.7M
Mar 27, 2024
6unknownunknown
DN Capital Gvc IV Seed LPSeed fund2020 adv first reportedMature$680,096
Mar 27, 2024
5unknownunknown
DN Capital - Global Venture Capital IV LPFund2017 adv first reportedHarvest$316M
Mar 27, 2024
52$0
of $226M
May 25, 2016
DN Capital Gvc Seed III LPSeed fund2016 adv first reportedHarvest$1.1M
Mar 27, 2024
2unknownunknown
DN Capital - Global Venture Capital III LPFund2012 form d first saleHarvest$59.2M
Mar 27, 2024
45$63.8M
of $186M
Aug 20, 2012
DN Capital - Global Venture Capital II, LPFundunknownUnknown$78.5M
Mar 27, 2024
18unknownunknown
DN Capital - Global Venture Capital, Fund I, L.P.FundunknownWound down$2.7M
Mar 31, 2020
16unknownunknown
GAV is the gross asset value the adviser reported on Form ADV for the vehicle, never the fund’s committed size and never dry powder. Form D sold is the amount sold as of the latest filing, never a final close.
Investment team
4 current, 0 departed
Nenad Joseph Marovac
Class A Member · since Dec 1, 2006
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Steven Jeffrey Schlenker
Class A Member · since Jan 1, 2023
Partner
FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Nenad Joseph Marovac
Chairman, Ceo And Director · since Jan 1, 2008
Principal
FactIAPD Form ADV Part 1 PDF per firm (current filing, Schedule D 7.B.(1) and Schedule A)
Steven Jeffrey Schlenker
President And Director · since Jan 1, 2008
Principal
FactIAPD Form ADV Part 1 PDF per firm (current filing, Schedule D 7.B.(1) and Schedule A)
Investments on record
1 edges, 1 companies, 0 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
Investor Portalportfolio listingunknownunknownunknownunknownSep 12, 2026Fact Venture organization websites (about, team, portfolio, thesis, news pages)
“This investor” is the amount disclosed for this investor alone; it is unknown unless a source said it. The round size is the whole round.
Co-investors
27 relationships from shared deals, counted for the whole firm
Orei Advisors LP 1 shared · one timeTritium Partners 1 shared · one timeUncommon Denominator Management LLC 1 shared · one timeDFJ Growth 1 shared · one timeGrandBanks Capital 1 shared · one timeHivemind Capital Partners LLC 1 shared · one timeGreenridge Growth Partners 1 shared · one timeCresta Fund Management LLC 1 shared · one timeFTV Capital 1 shared · one timeArctaris Impact Investors 1 shared · one time5th Century Partners 1 shared · one timeCarnelian Energy Capital Management, LP 1 shared · one timeSamsara Biocapital, LLC 1 shared · one timeBlueprint Local LLC 1 shared · one timeLAS Olas Venture Capital 1 shared · one timeSofinnova Investments, Inc. 1 shared · one timeKamerra Holdings, LLC 1 shared · one timeNSV Management LLC 1 shared · one timeHakluyt Capital Limited 1 shared · one timeRally Ventures Management, LLC 1 shared · one timeNCN 1 shared · one time4x4 Capital 1 shared · one timeRice Park Capital 1 shared · one timeFGC Management Co., LLC 1 shared · one timePlural Uk Management 1 shared · one timeUnless Management LP 1 shared · one timeMcwhorter Ventures, LLC 1 shared · one time
Limited partners
1 disclosed
Timeline
13 dated events
  1. Mar 27, 2024
    DN Capital - Global Venture Capital VI Scsp first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $18,368,044
    Fund first reported on Form ADVFundsFactDN Capital - Global Venture Capital VI ScspSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  2. Mar 31, 2022
    DN Capital Identity Spv LP first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $7,500,000
    Fund first reported on Form ADVFundsFactDN Capital Identity Spv LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  3. Mar 31, 2022
    DN Capital Gvc V Seed LP first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $772,344
    Fund first reported on Form ADVFundsFactDN Capital Gvc V Seed LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  4. Mar 30, 2021
    DN Capital Gvc IV Labour Spv LP first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $21,536,469
    Fund first reported on Form ADVFundsFactDN Capital Gvc IV Labour Spv LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  5. Mar 30, 2021
    DN Capital - Global Venture Capital V Scsp first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $183,968,517
    Fund first reported on Form ADVFundsFactDN Capital - Global Venture Capital V ScspSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  6. Mar 30, 2021
    DN Capital - Global Venture Capital, Fund I, L.P. no longer reported on Form ADV by DN Capital (US), Inc
    Fund no longer reportedFundsInferenceDN Capital - Global Venture Capital, Fund I, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  7. Mar 31, 2020
    DN Capital Gvc IV Seed LP first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $554,906
    Fund first reported on Form ADVFundsFactDN Capital Gvc IV Seed LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  8. Mar 31, 2017
    DN Capital - Global Venture Capital IV LP first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $124,185,925
    Fund first reported on Form ADVFundsFactDN Capital - Global Venture Capital IV LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  9. Mar 30, 2016
    DN Capital Gvc Seed III LP first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $922,000
    Fund first reported on Form ADVFundsFactDN Capital Gvc Seed III LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  10. Mar 4, 2013
    DN Capital - Global Venture Capital III LP first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $83,300,000
    Fund first reported on Form ADVFundsFactDN Capital - Global Venture Capital III LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  11. Mar 29, 2012
    DN Capital - Global Venture Capital, Fund I, L.P. first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $69,000,000
    Fund first reported on Form ADVFundsFactDN Capital - Global Venture Capital, Fund I, L.P.SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  12. Mar 29, 2012
    DN Capital - Global Venture Capital II, LP first reported on Form ADV by DN Capital (US), Inc (Venture Capital Fund), GAV $70,000,000
    Fund first reported on Form ADVFundsFactDN Capital - Global Venture Capital II, LPSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
  13. Mar 29, 2012
    DN Capital (US), Inc first filed Form ADV (ERA, venture capital fund adviser exemption)
    First SEC adviser filingOrganizationFactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
  1. Sep 12, 2026
    Institutional venture firm (confirmed, 95%, cls-1)
    venture manager, reported GAV $789M across 10 vehicles
Evidence
62 observations from 3 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedvc_exemption,vc_funds_reportedMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC exemption claimedventure_capital_fund_adviserMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC exemption claimedventure_capital_fund_adviserMar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
SEC adviser typeexempt_reporting_adviserMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC adviser typeexempt_reporting_adviserMar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
First Form ADV filing2012-03-29Mar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Adv history loadedadv-hist-1Sep 12, 2026FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Latest Form ADV filing2026-03-31Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Latest Form ADV filing2024-03-27Mar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
SEC statusERA - ActiveMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
SEC status effective2012-03-29Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Venture share of reported funds1Mar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Business phone650-561-9300Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Business phone650-561-9300Mar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Contact page urlhttps://dncapital.com/contact
“contact page linked from the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
DescriptionDN Capital is a global early-stage venture firm, with an experienced team passionate about technology and working with exceptional entrepreneurs. Founded in 2000 by Nenad Marovac and Steve Schlenker, DN Capital is now one of Europe’s most established VC funds.
“meta description”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
DescriptionDN Capital is a global early-stage venture firm, with an experienced team passionate about technology and working with exceptional entrepreneurs. Founded in 2000 by Nenad Marovac and Steve Schlenker, DN Capital is now one of Europe’s most established VC funds.
“meta description”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
HeadquartersPark City, UTMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
HeadquartersMenlo Park, CAMar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Office address3867 PINNACLE SKY LOOP, Park City, UT, 84098Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Office address325 SHARON PARK DRIVE #752, BUILDING 3 SUITE 245, Menlo Park, CA, 94025Mar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Self-described typeventure_capital
“Welcome - DN Capital - Venture Capital”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Self-described typeventure_capital
“Welcome - DN Capital - Venture Capital”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Legal formCorporationMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Legal formCorporationMar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Portfolio pagehttps://dncapital.com/portfolio
“1 entries read”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Portfolio pagehttps://dncapital.com/portfolio
“1 entries read”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Private funds reported11Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Private funds reported10Mar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Private fund gross assets (reported)$866MMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Private fund gross assets (reported)$789MMar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Stated geographyeurope,germany,global,globally,north america,uk
“geography words on the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated geographyeurope,germany,global,globally,north america,uk
“geography words on the home page”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated sectorsai,fintech,consumer,marketplaces,energy,media
“sector words on the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated sectorsai,fintech,consumer,marketplaces,energy,media
“sector words on the home page”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated stagesseed,series_a,series_b,growth,early,multi_stage
“stage words on the home page”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Stated stagesseed,series_a,series_b,growth,early,multi_stage
“stage words on the home page”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Team pagehttps://dncapital.com/team
“0 name/title pairs read”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Team pagehttps://dncapital.com/team
“0 name/title pairs read”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Venture funds reported11Mar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
Venture funds reported10Mar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
WebsiteHTTP://WWW.DNCAPITAL.COMMar 31, 2026FactSEC Form ADV monthly roster (registered + exempt reporting advisers)
WebsiteHTTP://WWW.DNCAPITAL.COMMar 27, 2024FactSEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Site titleWelcome - DN Capital - Venture Capital
“title tag”
Sep 16, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)
Site titleWelcome - DN Capital - Venture Capital
“title tag”
Sep 12, 2026FactVenture organization websites (about, team, portfolio, thesis, news pages)