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Dcm

Institutional venture firmSEC venture capital fund adviser· Menlo Park, CaliforniaDCM.COM

Institutional venture firm, based in Menlo Park, California, reporting $2.8B of fund assets on its funds' Form ADV filings.

Composed from this organization's classification, location and filed figures.

Reported fund assets
$2.8B
sum of its funds' Form ADV filings, last 30 months
New companies, 12 mo
1
Investment team
11
Latest vintage
2022
Contact decision makers
More
Ask DFX about thisView relationshipsFind contactsInvestments (154)Team (12)Funds
As of · the latest observation of this organization; filed figures are as of its latest Form ADV

15 additional team members, 37 additional co-investors and affiliates, 181 additional investments, funds and LPs, 53 events, 12 verified contacts (9 professional url, 2 general firm email, 1 firm phone)

Every relationship, signal and contact on this record, with the source on each.

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

What matters now

  1. 1 company
    new in 12 months

    1 new company in the last 12 months.

    A firm writing cheques this quarter is one a founder can pitch now.

    Factfunding announcements, Form D, the firm's portfolio pageFor Founders, co-investorsInvestments →
  2. 4 deals
    with Bling Capital

    Invests most often alongside Bling Capital (4 shared deals) and Lightspeed Venture Partners (4 shared deals).

    pair last observed on record 1 Oct 2026, not a deal date · The firms it syndicates with are the likeliest to see the same deals and to fill out its rounds.

    Measuredshared rounds and portfolio companies on recordFor Founders building a round, co-investorsCo-investors →

People to know

View all people
  • Fiona Huang
    Partner
    Why: Partner: part of the investment decision
    Profile
  • Frank Hurst Lin
    Partner
    Why: Partner: part of the investment decision
    No route on file yet
  • Zhenyu Zeng
    Partner
    Why: Partner: part of the investment decision
    No route on file yet

Relationship network

243 connected entities22 observed rounds7 repeat counterparties

From financing rounds and every investor named in them, Form ADV and Form D filings, the firm's funds and team, and disclosed LP commitments in the venture capital graph. A round's amount is the size of the round, not money that moved between two investors.

Some relationships on this record are counted rather than named here. They open with the full profile.

Click any name or line for the rounds and sources behind it. Line weight is rounds together; dashed lines are inferred.

Reading the network
  • Sponsor
  • Company
  • Fund or vehicle
  • Person

Co-investors are read from the rounds: three or more shared rounds is a strong observed relationship, two a repeat co-investor, one a single round. Funds and people are structural. Nothing is scored that a reader cannot check.

Darker lines were active in the last 24 months or are current; lighter lines are older or undated.

How am I connected?

Name your firm, a company or a person, and DFX finds the published routes to Dcm: a shared portfolio company or board, a prior employer, a co-investor, a shared LP or service provider. Every step is a filed or published record with its source; none is a guess about who knows whom.

See how you connect to Dcm

Includes 3 days of DFX Intelligence. Then $199/month unless canceled.

Investing

154 companies on record, 1 new in 12 months
Investments on record
154 companies, 23 partner-attributed
CompanyRoundRolePartnerRound sizeThis investorDateSource
1 Mainstreamportfolio listingunknownunknownunknownunknownOct 1, 2026Fact Firm website
51jobportfolio listingunknownunknownunknownunknownOct 1, 2026Fact Firm website
51Talkportfolio listingunknownunknownunknownunknownOct 1, 2026Fact Firm website
Stated thesis versus observed behaviour
166 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
unknown 98%Other Technology 1%Biotechnology 1%
lead rate no observed dealsfollow-on rate 36%new companies, 12 months 1

Team

12 current, 9 departed
Decision makers
who to call first, and why; then everyone else by function
  • Fiona Huang · Partner
    Why this person: Partner: part of the investment decision; Named with investment responsibility
    LinkedIn or profile link on file (firm website), confirmed 2026-10-01, confidence 90%
  • Frank Hurst Lin · Partner
    Why this person: Partner: part of the investment decision; Named with investment responsibility
  • Zhenyu Zeng · Partner
    Why this person: Partner: part of the investment decision; Named with investment responsibility

Ranked by the role the firm or its filing states, a route on file and deals led. Every reason is read from the record, never inferred. 1 with a route on file. Routes are published by the person or the firm (their bio, the team page or a filing) and are revealed on a plan; data bought from a provider is never shown, and a route printed at a firm the person has since left is held back.

Investment team
12 current, 9 departed
9 departed (kept with end dates)
Contacts
2 general firm email, 1 firm phone, 9 professional url

2 general firm email, 1 firm phone, 9 professional url on record, each with its source. Values open with the complete profile.

Funds and LPs

22 vehicles, 0 LPs disclosed
Funds and vehicles
22 reported, 11 no longer reported
VehicleTypeVintageLifecycleReported GAVOwnersForm D soldLatest Form D
Fund 1496750Fund2022 adv first reportedActive deployment$8.4M
Mar 31, 2026
14unknownunknown
Fund 557018Fund2020 adv first reportedMature$5.4M
Mar 31, 2026
5unknownunknown
Fund 428156Fund2019 adv first reportedMature$744M
Mar 31, 2026
81unknownunknown
Limited partners
0 LPs, 0 disclosed commitments
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.
Known LPs and allocators
0 relationships across the firm's funds, from public pensions and the allocator graph
No allocator names this firm or its funds in a public disclosure DFX holds.

Relationships across DFX

80 co-investors · on 1 other DFX graph
Co-investors
80 counted from shared deals, for the whole firm
Across DFX and the capital chainon 1 other DFX graph Show
Across DFX
  • The same institution is held on RIA and Wealth, matched by identifier. See which records
Across the graphs

Dcm is the same institution as 1 record in RIA and Wealth.

RIA and Wealth1

The joined record opens with the product, beside every other relationship on this page.

Checking your plan…

Evidence and history

58 dated events, 76 observations from 4 sources
Timeline
58 dated events
  1. Mar 31, 2026
    Osuke Honda (Partner) no longer on Schedule A of Dcm
    Person leftPeopleInferenceOsuke HondaForm ADV
  2. Mar 31, 2026
    Matthew C. Bonner (Chief Operating Officer & Legal Partner) no longer on Schedule A of Dcm
    Person leftPeopleInferenceMatthew C. BonnerForm ADV
  3. Mar 28, 2024
    Fund 489734 first reported on Form ADV by Dcm (Venture Capital Fund), GAV $135,656,566
    Fund first reported on Form ADVFundsFactFund 489734Form ADV
  4. Mar 28, 2024
    Fund 553276 no longer reported on Form ADV by Dcm
    Fund no longer reportedFundsInferenceFund 553276Form ADV
  5. Mar 28, 2024
    Fund 417046 no longer reported on Form ADV by Dcm
    Fund no longer reportedFundsInferenceFund 417046Form ADV
Identity and regulatory footprint
Address, phone, Form ADV filing and ownersForm ADV filed Mar 31, 2026 · 20 private fundsShow
Headquarters
Menlo Park, CAadviserinfo.sec.gov
Office address
unknownadviserinfo.sec.gov
Business phone
unknownadviserinfo.sec.gov
Website
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, adviser total
$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), owns under 5%
Classification history
Every classification this record has carried4 on recordShow
  1. Sep 23, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $2.8B across 22 vehicles
  2. Sep 15, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $3.1B across 22 vehicles
  3. Sep 12, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $339M across 5 vehicles
  4. Sep 12, 2026
    Institutional venture firm (confirmed, 95%)
    Venture manager, reported GAV $475M across 6 vehicles
Evidence
76 observations from 4 sources
Every observation behind this profile, with its source, date and class
FactValueEffectiveClassSource
Why admittedVC exemption, VC funds reportedMar 31, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserMar 31, 2026FactForm ADV
SEC exemption claimedVenture capital fund adviserJul 31, 2024FactForm ADV
SEC adviser typeExempt reporting adviserMar 31, 2026FactForm ADV
SEC adviser typeExempt reporting adviserMar 31, 2026FactForm ADV
SEC adviser typeExempt reporting adviserJul 31, 2024FactForm ADV
First Form ADV filing2012-03-30Mar 31, 2026FactForm ADV
First Form ADV filing2012-03-30Jul 31, 2024FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-29Sep 30, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-25Sep 26, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-23Sep 24, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-21Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1+panel:2026-09-22Sep 23, 2026FactForm ADV
Adv history loadedadv-hist-1Sep 12, 2026FactForm ADV
Latest Form ADV filing2026-03-31Mar 31, 2026FactForm ADV
Latest Form ADV filing2026-03-31Mar 31, 2026FactForm ADV
Latest Form ADV filing2024-07-31Jul 31, 2024FactForm ADV
SEC statusMar 31, 2026FactForm ADV
SEC status effective2012-03-30Mar 31, 2026FactForm ADV
Venture share of reported funds1Mar 31, 2026FactForm ADV
Venture share of reported funds1Jul 31, 2024FactForm ADV
Business phoneMar 31, 2026FactForm ADV
Business phoneJul 31, 2024FactForm ADV
Contact page urlOct 1, 2026Factno URL
Contact page urlSep 16, 2026Factno URL
HeadquartersMenlo Park, CAMar 31, 2026FactForm ADV
HeadquartersMenlo Park, CAJul 31, 2024FactForm ADV
Office addressMar 31, 2026FactForm ADV
Office addressJul 31, 2024FactForm ADV
Legal formLimited PartnershipMar 31, 2026FactForm ADV
Legal formLimited PartnershipJul 31, 2024FactForm ADV
Portfolio pageOct 1, 2026Factno URL
Portfolio pageSep 16, 2026Factno URL
Portfolio pageSep 14, 2026Factno URL
Private funds reported20Mar 31, 2026FactForm ADV
Private funds reported20Mar 31, 2026FactForm ADV
Private funds reported23Jul 31, 2024FactForm ADV
Private fund gross assets (reported)$2.7BMar 31, 2026FactForm ADV
Private fund gross assets (reported)$2.7BMar 31, 2026FactForm ADV
Private fund gross assets (reported)$3.2BJul 31, 2024FactForm ADV
Schedule a diffsadiff-1Mar 31, 2026FactForm ADV
Stated geographyAsia, global, globally, worldwide
“geography words on the home page”
Oct 1, 2026Factno URL
Stated geographyAsia, global, globally, worldwide
“geography words on the home page”
Sep 16, 2026Factno URL
Stated geographyAsia, global, globally, worldwide
“geography words on the home page”
Sep 14, 2026Factno URL
Stated sectorsAI, fintech, marketplaces, space, logistics, gaming, media, B2B
“sector words on the home page”
Oct 1, 2026Factno URL
Stated sectorsAI, fintech, marketplaces, space, logistics, gaming, media, B2B
“sector words on the home page”
Sep 16, 2026Factno URL
Stated sectorsAI, fintech, marketplaces, space, logistics, gaming, media, B2B
“sector words on the home page”
Sep 14, 2026Factno URL
Stated stagesearly
“stage words on the home page”
Oct 1, 2026Factno URL
Stated stagesearly
“stage words on the home page”
Sep 16, 2026Factno URL
Stated stagesearly
“stage words on the home page”
Sep 14, 2026Factno URL
Team pageOct 1, 2026Factno URL
Team pageSep 16, 2026Factno URL
Team pageSep 14, 2026Factno URL
Venture funds reported20Mar 31, 2026FactForm ADV
Venture funds reported20Mar 31, 2026FactForm ADV
Venture funds reported23Jul 31, 2024FactForm ADV
WebsiteJul 31, 2024FactForm ADV
Site titleOct 1, 2026Factno URL
Site titleSep 16, 2026Factno URL
Site titleSep 14, 2026Factno URL
How this is scored
Scores, classification basis and filing advisersInstitutional venture firm, confirmedShow
Importance
77
high
Active deployment
4
low
Emerging
0
low
Freshness
100
high
Institutional venture firmSEC exempt reporting adviser

Venture manager, reported GAV $2.8B across 22 vehicles

The inputs behind each score
importance
gav: $1 · funds: 1 · people: 0.52 · investments: 0.82 · co investors: 0.77
active deployment
investments 12m: 0.13 · fund raising 18m: 0 · people joined 12m: 0 · vintage within 3y: 0 · latest investment at: 2026-04-13
emerging manager
fund count: 33 · reported gav: $2.8B · first adv filing: 2012-03-30 · years since first filing: 14.5

Fits, record history and connections

scored matches for this investor, every identity change, every edge

Record history

1 dated event on the change ledger, latest event first
  • Adviser's first ADV filing
    2012-03-30source on record

The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.