DFX Intelligence
Venture Capital Intelligence
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 / Dcm
Dcm
venture manager, reported GAV $3,068M across 22 vehicles
Importance
49
elevated
Active deployment
4
low
Emerging
0
low
Completeness
75
high
Freshness
100
high
Research priority
7
low
Identity and regulatory footprint
- Headquarters
- Menlo Park, CAadviserinfo.sec.gov
- Office address
- 2420 SAND HILL ROAD #200, Menlo Park, CA, 94025adviserinfo.sec.gov
- Business phone
- 650-233-1400adviserinfo.sec.gov
- Website
- HTTP://WWW.DCM.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
- 20 (20 venture capital funds)adviserinfo.sec.gov
- Private fund gross assets
- $2.7Badviserinfo.sec.govreported GAV of the funds, the adviser's own number; not fund size, not dry powder
- Owners on Schedule A
- DCM Management International, Ltd (General Partner), NA
- business email
- hello@dcm.comdcm.compublished by the subject
- business email
- contact@dcm.comdcm.compublished by the subject
- business phone
- 650-233-1400adviserinfo.sec.govpublished by the subject
Stated thesis versus observed behaviour
1 observed deals
Stated (the firm’s website)
- Sectors
- ai, fintech, marketplaces, space, logistics, gaming, media, b2b
- Stages
- early
- Geography
- asia, global, globally, worldwide
- Check size
- not stated; DFX does not estimate checks from round sizes
Observed (from deals on record)
Stage at participation: no observed deals yet
Stage at first entry: no observed deals yet
Sectors
Biotechnology 100%
lead rate n/afollow-on rate n/anew logos, 12 months 1
Funds and vehicles
22 reported, 11 no longer reported
| Vehicle | Type | Vintage | Lifecycle | Reported GAV | Owners | Form D sold | Latest Form D |
|---|---|---|---|---|---|---|---|
| Fund 1496750 | Fund | 2022 adv first reported | Active deployment | $3.3M Jul 31, 2024 | 14 | unknown | unknown |
| Fund 557018 | Fund | 2020 adv first reported | Mature | $4.0M Jul 31, 2024 | 5 | unknown | unknown |
| Fund 428156 | Fund | 2019 adv first reported | Mature | $709M Jul 31, 2024 | 80 | unknown | unknown |
| Fund 452424 | Fund | 2019 adv first reported | Mature | $58.9M Jul 31, 2024 | 17 | unknown | unknown |
| Fund 436878 | Fund | 2019 adv first reported | Mature | $9.0M Jul 31, 2024 | 15 | unknown | unknown |
| Fund 391038 | Fund | 2018 adv first reported | Harvest | $124M Jul 31, 2024 | 18 | $0 of $100M | Nov 30, 2017 |
| Fund 862087 | Fund | 2017 adv first reported | Harvest | $13.7M Jul 31, 2024 | 9 | unknown | unknown |
| Fund 895237 | Fund | 2016 adv first reported | Harvest | $499M Jul 31, 2024 | 41 | unknown | unknown |
| Fund 666273 | Fund | 2016 adv first reported | Harvest | $41.1M Jul 31, 2024 | 6 | unknown | unknown |
| Fund 067759 | Fund | 2016 adv first reported | Harvest | $8.4M Jul 31, 2024 | 15 | unknown | unknown |
| Fund 782009 | Fund | 2015 adv first reported | Harvest | $157M Jul 31, 2024 | 24 | $0 of $170M | Sep 8, 2014 |
| Fund 759381 | Fund | 2015 adv first reported | Harvest | $127M Jul 31, 2024 | 23 | $0 of $100M | Dec 11, 2014 |
| Fund 824427 | Feeder or parallel | 2015 adv first reported | Harvest | $5.2M Jul 31, 2024 | 12 | $0 of $10.0M | Dec 24, 2014 |
| Fund 119396 | Fund | 2014 adv first reported | Harvest | $848M Jul 31, 2024 | 33 | unknown | unknown |
| Fund 125650 | Fund | 2014 adv first reported | Harvest | $81.7M Jul 31, 2024 | 5 | unknown | unknown |
| Fund 136514 | Fund | unknown | Unknown | $151M Jul 31, 2024 | 71 | unknown | unknown |
| Fund 823908 | Fund | unknown | Unknown | $130M Jul 31, 2024 | 66 | unknown | unknown |
| Fund 304214 | Fund | unknown | Unknown | $45.5M Jul 31, 2024 | 19 | unknown | unknown |
| Fund 221855 | Fund | unknown | Unknown | $35.2M Jul 31, 2024 | 71 | unknown | unknown |
| Fund 214825 | Fund | unknown | Unknown | $12.1M Jul 31, 2024 | 10 | unknown | unknown |
| Fund 523455 | Fund | unknown | Unknown | $3.3M Jul 31, 2024 | 73 | unknown | unknown |
| Fund 337911 | Fund | unknown | Unknown | $1.2M Jul 31, 2024 | 74 | unknown | unknown |
| Fund 330374 | Fund | 2016 adv first reported | Wound down | $38.1M Mar 28, 2017 | 2 | unknown | unknown |
| Fund 417046 | Fund | 2016 adv first reported | Wound down | $2.9M Mar 29, 2023 | 3 | unknown | unknown |
| Fund 553276 | Fund | unknown | Wound down | $55.7M Mar 29, 2023 | 146 | unknown | unknown |
| Fund 365417 | Fund | unknown | Wound down | $29.3M Mar 25, 2014 | 3 | unknown | unknown |
| Fund 218739 | Fund | unknown | Wound down | $2.7M Mar 29, 2023 | 95 | unknown | unknown |
| Fund 742545 | Fund | unknown | Wound down | $1.5M Mar 29, 2023 | 37 | unknown | unknown |
| Fund 672722 | Fund | unknown | Wound down | $1.1M Mar 30, 2016 | 95 | unknown | unknown |
| Fund 926682 | Fund | unknown | Wound down | $204,341 Mar 30, 2016 | 46 | unknown | unknown |
| Fund 239640 | Fund | unknown | Wound down | $119,398 Mar 30, 2016 | 15 | unknown | unknown |
| Fund 143107 | Fund | unknown | Wound down | $74,297 Mar 30, 2016 | 68 | unknown | unknown |
| Fund 323681 | Fund | unknown | Wound down | $64,143 Mar 30, 2016 | 2 | unknown | unknown |
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
14 current, 7 departed
Leonard Teng
AnalystAnalyst
David Chao
General partnerCo-Founder and General Partner
Hurst Lin
General partnerGeneral Partner
Ramon Zeng
General partnerGeneral Partner
Fiona Huang
PartnerPartner
Frank Hurst Lin
PartnerPartner · since Jul 1, 2010
Osuke Honda
PartnerPartner · since Jan 1, 2015
Zhenyu Zeng
PartnerPartner · since Dec 1, 2015
Andre Levi
Platform and operationsChief Financial Officer & Partner · since Jan 1, 2013
Matthew C. Bonner
Platform and operationsChief Operating Officer & Legal Partner · since Jul 1, 2010
Addison Leong
Venture partnerVenture Partner
Gloria Zhang
Vice presidentInvestment VP
Jess He
Vice presidentInvestment Manager
Shawn Niu
Vice presidentInvestment Manager
7 departed (kept with end dates)
- Carlton G. Amdahl · Partner · Jul 1, 2010 to Mar 27, 2015 Inference
- Dixon R. Doll · Partner · Jul 1, 2010 to Mar 27, 2015 Inference
- Jason G. Krikorian · Partner · Jul 1, 2010 to Mar 31, 2022 Inference
- Katsujin(david) Chao · Partner · Jul 1, 2010 to Mar 31, 2022 Inference
- Peter W. Moran · Partner · Jul 1, 2010 to Aug 4, 2015 Inference
- Rong Lu · Partner · Jul 1, 2010 to Mar 28, 2017 Inference
- Thomas B. Blaisdell · Partner · Jul 1, 2010 to Aug 4, 2015 Inference
Investments on record
1 edges, 1 companies, 1 partner-attributed
| Company | Round | Role | Partner | Round size | This investor | Date | Source |
|---|---|---|---|---|---|---|---|
| Rakuten Medical, Inc. | board seat | unknown · board | David Chao (strongly supported) | unknown | unknown | Apr 13, 2026 | Inference SEC EDGAR Form D data sets (quarterly) |
“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
1 relationships from shared deals, counted for the whole firm
Limited partners
0 disclosed
No LP commitment on record. An LP edge needs a public disclosure with a quote: a pension report (see Limited partners for the plans read), a fund announcement naming the LP, or a Form ADV owner. The fund page carries the LP’s reported performance.
Timeline
56 dated events
- Mar 28, 2024Fund 553276 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 553276SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Fund 742545 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 742545SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Fund 218739 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 218739SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Fund 489734 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $135,656,566Fund first reported on Form ADVFundsFactFund 489734SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2024Fund 417046 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 417046SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2022Jason G. Krikorian (Partner) no longer on Schedule A of Dcm
- Mar 31, 2022Fund 1496750 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $3,350,428Fund first reported on Form ADVFundsFactFund 1496750SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 31, 2022Katsujin(david) Chao (Partner) no longer on Schedule A of Dcm
- Mar 28, 2020Fund 557018 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $5,247,932Fund first reported on Form ADVFundsFactFund 557018SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2019Fund 428156 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $614,874,540Fund first reported on Form ADVFundsFactFund 428156SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2019Fund 452424 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $49,046,295Fund first reported on Form ADVFundsFactFund 452424SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 29, 2019Fund 436878 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $6,746,487Fund first reported on Form ADVFundsFactFund 436878SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2018Fund 391038 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $15,000,000Fund first reported on Form ADVFundsFactFund 391038SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2018Fund 330374 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 330374SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2017Fund 672722 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 672722SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2017Fund 862087 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $11,155,025Fund first reported on Form ADVFundsFactFund 862087SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2017Fund 926682 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 926682SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2017Fund 323681 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 323681SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2017Fund 143107 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 143107SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2017Fund 239640 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 239640SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 28, 2017Rong Lu (Partner) no longer on Schedule A of Dcm
- Mar 30, 2016Fund 666273 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $32,676,768Fund first reported on Form ADVFundsFactFund 666273SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2016Fund 895237 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $405,277,778Fund first reported on Form ADVFundsFactFund 895237SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2016Fund 330374 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $38,154,520Fund first reported on Form ADVFundsFactFund 330374SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2016Fund 417046 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $5,111,515Fund first reported on Form ADVFundsFactFund 417046SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2016Fund 067759 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $6,449,344Fund first reported on Form ADVFundsFactFund 067759SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Dec 1, 2015Zhenyu Zeng joined Schedule A of Dcm as Partner
- Aug 4, 2015Thomas B. Blaisdell (Partner) no longer on Schedule A of Dcm
- Aug 4, 2015Peter W. Moran (Partner) no longer on Schedule A of Dcm
- Mar 27, 2015Dixon R. Doll (Partner) no longer on Schedule A of Dcm
- Mar 27, 2015Fund 782009 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $176,064,629Fund first reported on Form ADVFundsFactFund 782009SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2015Fund 824427 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $10,358,780Fund first reported on Form ADVFundsFactFund 824427SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2015Fund 759381 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $100,000,000Fund first reported on Form ADVFundsFactFund 759381SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 27, 2015Carlton G. Amdahl (Partner) no longer on Schedule A of Dcm
- Mar 27, 2015Fund 365417 no longer reported on Form ADV by DcmFund no longer reportedFundsInferenceFund 365417SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jan 1, 2015Osuke Honda joined Schedule A of Dcm as Partner
- Mar 25, 2014Fund 125650 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $29,292,900Fund first reported on Form ADVFundsFactFund 125650SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 25, 2014Fund 119396 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $304,040,100Fund first reported on Form ADVFundsFactFund 119396SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Jan 1, 2013Andre Levi joined Schedule A of Dcm as Chief Financial Officer
- Mar 30, 2012Fund 304214 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $148,762,456Fund first reported on Form ADVFundsFactFund 304214SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Dcm 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)
- Mar 30, 2012Fund 672722 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $20,095,326Fund first reported on Form ADVFundsFactFund 672722SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 239640 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $2,016,493Fund first reported on Form ADVFundsFactFund 239640SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 365417 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $29,673,252Fund first reported on Form ADVFundsFactFund 365417SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 337911 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $17,824,986Fund first reported on Form ADVFundsFactFund 337911SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 143107 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $1,507,501Fund first reported on Form ADVFundsFactFund 143107SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 218739 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $14,817,737Fund first reported on Form ADVFundsFactFund 218739SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 323681 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $1,099,733Fund first reported on Form ADVFundsFactFund 323681SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 742545 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $6,390,007Fund first reported on Form ADVFundsFactFund 742545SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 214825 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $62,085,033Fund first reported on Form ADVFundsFactFund 214825SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 553276 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $243,777,140Fund first reported on Form ADVFundsFactFund 553276SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 823908 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $387,384,085Fund first reported on Form ADVFundsFactFund 823908SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 523455 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $10,798,283Fund first reported on Form ADVFundsFactFund 523455SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 926682 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $6,861,127Fund first reported on Form ADVFundsFactFund 926682SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 136514 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $455,866,628Fund first reported on Form ADVFundsFactFund 136514SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
- Mar 30, 2012Fund 221855 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $694,475,847Fund first reported on Form ADVFundsFactFund 221855SEC Form ADV filing data 2011 to 2024 (every filing, Schedule D 7.B.(1) private funds, Schedules A/B)
Classification history
- Sep 15, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $3,068M across 22 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $339M across 5 vehicles
- Sep 12, 2026Institutional venture firm (confirmed, 95%, cls-1)venture manager, reported GAV $475M across 6 vehicles
Evidence
55 observations from 3 sources