VC firm
DCM Ventures
Also known as DCM, DCM Management, L.P.
- Investor type
- VC
- Investing status
- Activeas of 2026-09-28Source (opens in a new tab)
- Headquarters
- Menlo Park, CA, United States
- Founded
- 1996
- Assets under management
- $2.7BForm ADV private fund GAV, as of 2026-03-31Source (opens in a new tab)
- Funds
- 23
- Legal name
- DCM Management LP
- dcm.com (opens in a new tab)
- LinkedIn (opens in a new tab)
- X (opens in a new tab)
- Team page (opens in a new tab)
Claim, correct or request removal
Record updated 29 September 2026
About
DCM is a global early-stage venture capital firm founded in 1996 in Menlo Park, California by former Accel partner Dixon Doll and David Chao. It leads rounds in a small group of early-stage companies each year, with a cross-border US-Asia investment strategy, backing 400+ companies (35+ unicorns) with $150Bn in aggregate market value across consumer, enterprise, healthcare, fintech and frontier tech.
Investment approach
- Thesis
- Starting with fundamental truths rather than analogies or conventions, we help founders build truly innovative companies that stand the test of time.Source (opens in a new tab)
- Leads rounds
- Yes
- Lead policy
- We lead rounds to partner with a small group of early-stage companies each year, going all-in with our time, network, and resources where we can make a meaningful impact.
- Eligibility
- The best way to connect with us is through an introduction from one of our founders or mutual connections.
- Investing status notes
- Home page highlights recent portfolio activity and current team investments (e.g. "Recent DCM investments...include Assured, Cherry, DXY, EvenUp, Fountain, Figure Technologies, and Musely" per David Chao's bio); site copyrighted 2025.
Funds
- FUND 337911
- Main fund
- FUND 436878
- Main fund
- FUND 067759
- Main fund
- FUND 862087
- Main fund
- FUND 1496750
- Main fund
- FUND 759381
- Main fund
- FUND 823908
- Main fund
- FUND 824427
- Main fund
- FUND 391038
- Main fund
- FUND 214825
- Main fund
- FUND 523455
- Main fund
- FUND 782009
- Main fund
- More funds
- 11 more recorded
SEC registration
- Registered adviser
- DCM MANAGEMENT, L.P.
- CRD number
- 160285 (opens in a new tab)
- SEC file number
- 802-75945
- Registration
- Exempt reporting adviser
- Regulatory AUM
- $2.7Bas of 2026-03-31
- Private funds reported
- 20
- Principal office
- MENLO PARK, CA, United States
Locations
- Headquarters
- Menlo Park, CA, United States
- Office
- Beijing, China
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