DCM Secures $25M For Its China Turbo Fund


The San Francisco Employees’ Retirement System (SFERS) has committed US$25 million to a China venture fund being raised by DCM, according to media reports.

On September 8, DCM filed with the U.S. Securities and Exchange Commission to raise a total of US$170 million for the DCM Ventures China Turbo Fund L.P.

The $25 million commitment comes after DCM closed its China-focused venture fund named DCM Ventures China Fund (DCM VII), L.P. at US$300 million in March.

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.

Caishen.Co - Primary Data for China Secondary Investment and Stock Markets
 
China Expert network

RELATED NEWS



LEAVE A REPLY