DCM Reaches $300M Close of China-Focused Venture Fund

Silicon Valley-based technology-focused venture capital firm Doll Capital Management (DCM) has closed its latest China-focused fund at US$300 million, according to a securities filing.

The fund, DCM Ventures China Fund (DCM VII), L.P., was launched in July 2013, with an initial fundraising target of US$250 million.

The fund will invest in the technology, media and telecom (TMT) industry, including internet, mobile, cloud computing and consumer-related start-ups. It will also support high-technology firms in the U.S. and Japan.

Founded in 1996 by David Chao and Dixon Doll, DCM has offices in Sillicon Valley, Beijing and Tokyo, with over US$2.5 billion under management.

It mainly focuses on investment in seed, early and mid-stage start-ups in sections including mobile, consumer Internet, software and services.

The company has invested in more than 200 technology companies across the U.S. and Asia. In China, it has currently invested in over 40 companies and exited 11 investments through IPO and trade sales.

Those companies include Yongche.com, U-cloud, Tuniu.com, Vipshop.com, 58.com, renren.com, Dangdang.com, 51job.com and Shanghai Luxin Packing Materials Science & Technology.

DCM’s first China-focused fund raised US$400 million.

(Correction: a previous version incorrectly said that the fund raised US$330 million)

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