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DCM

The first Silicon Valley firm to invest in the early-stage technology sector in China
DCM
Leadership team

IBRAHIM ALSUWAIDI (Principal)

MATTHEW C. BONNER (COO & Legal Partner)

DAVID CHAO (Co-Founder and General Partner)

DAVID CHENG (Principal)

OSUKE HONDA (General Partner)

JASON KRIKORIAN (General Partner)

ANDRÉ LEVI (Chief Financial Officer & Partner)

JIARUI WANG (Associate)

Number of Employees
0 - 50
Headquarters
Silicon Valley, California, United States
Established
1996
Social Media
Summary

DCM is a venture capital firm with over $4 billion under management. Since 1996, we have invested in more than 400 technology companies across the U.S. and Asia. With offices in Silicon Valley, Beijing, and Tokyo, DCM empowers our entrepreneurs with hands-on operational guidance and a global network of business and financial resources.

The firm's mission is to invest in visionary entrepreneurs who are using technology to solve real-world problems and create a better future. DCM's portfolio includes a diverse range of companies in industries such as ride-hailing, fintech, AI, blockchain, e-commerce, and healthcare. Notable investments include Grab, SoFi, Robin, Skydio, and Chain. 

DCM is committed to supporting its portfolio companies as they grow and change the world, and has a track record of success in identifying and investing in companies that become industry leaders.


History

DCM (formerly Doll Capital Management) is a venture capital firm that was founded in 1996 by David Chao and Dixon Doll. The firm is headquartered in Silicon Valley, with additional offices in Tokyo and Beijing. DCM has invested in a variety of successful companies, including Fortinet, 51job, and Bill.com.

DCM began as a joint venture between Doll Capital Management and SGI Japan, a subsidiary of Silicon Graphics. Its initial focus was on investing in companies that leveraged Silicon Graphics technology. However, as the firm grew, it expanded its focus to include companies in the software, internet, and mobile sectors.

In the early 2000s, DCM made a series of successful investments in Chinese companies, including 51job and Dangdang. These investments helped establish DCM as a leading investor in the Chinese market.

DCM has also been an active investor in the mobile sector. In 2005, the firm invested in the mobile advertising company AdMob, which was later acquired by Google for $750 million. DCM has also invested in a number of successful mobile gaming companies, including Happy Elements and Kakao Games.

In recent years, DCM has continued to expand its portfolio, investing in companies in emerging sectors such as blockchain and artificial intelligence. The firm has also expanded its global presence, with offices in Silicon Valley, Tokyo, and Beijing.

Today, DCM is recognized as one of the leading venture capital firms in the world, with a portfolio of successful companies across a range of industries. Its focus on investing in innovative companies with disruptive technologies has helped establish DCM as a key player in the venture capital industry.


Investment criteria

DCM invests in early-stage technology companies in the software, internet, mobile, and consumer sectors. The firm is headquartered in Silicon Valley, with additional offices in Tokyo and Beijing. DCM's investment criteria focus on several key factors:

  • Team: DCM looks for experienced and passionate teams that have a clear vision for their company's growth and are committed to achieving their goals.
  • Technology: DCM invests in companies that leverage innovative technologies to create products or services that disrupt traditional industries.
  • Market potential: DCM seeks companies that address large markets with significant growth potential.
  • Competitive advantage: DCM looks for companies that have a unique competitive advantage, such as proprietary technology or a strong brand.
  • Business model: DCM invests in companies with scalable business models that can generate significant revenue growth.
  • Traction: DCM prefers companies that have demonstrated market traction, such as user adoption or revenue growth.

DCM's investment approach is focused on building long-term partnerships with its portfolio companies, providing them with strategic guidance, operational support, and access to its global network of resources. The firm has a successful track record of identifying and investing in companies with high growth potential, helping them achieve their goals, and creating value for its investors.


Values
  • Entrepreneurship: DCM believes in the power of entrepreneurship to drive innovation and create value. The firm seeks to partner with visionary entrepreneurs who are passionate about their ideas and are committed to building great companies.
  • Integrity: DCM values integrity and ethical behaviour in all of its business dealings. The firm strives to be transparent, honest, and fair in its interactions with its portfolio companies, investors, and other stakeholders.
  • Collaboration: DCM believes that collaboration is essential to achieving success. The firm works closely with its portfolio companies, providing them with strategic guidance, operational support, and access to its global network of resources.
  • Diversity and Inclusion: DCM is committed to promoting diversity and inclusion in all aspects of its business. The firm believes that diverse perspectives and experiences are essential to driving innovation and creating value.
  • Continuous Learning: DCM values continuous learning and seeks to stay at the forefront of emerging technologies and trends. The firm encourages its team members to stay curious, ask questions, and challenge assumptions.
  • Global Perspective: DCM has a global perspective and seeks to identify and invest in companies with the potential to create an impact on a global scale. The firm leverages its offices in Silicon Valley, Tokyo, and Beijing to provide its portfolio companies with access to global markets and resources.

Mission

The mission statement of DCM is to invest in entrepreneurs who are building the future through technological innovation.

DCM believes that technology is the key driver of change in the world and that the companies that will shape the future are those that are using technology to solve real-world problems in innovative ways. The firm is committed to finding and investing in these visionary entrepreneurs and supporting them as they build their companies.

At the heart of DCM's mission is a commitment to fostering innovation and helping entrepreneurs succeed. The firm believes that by providing capital, expertise, and a supportive network, it can help entrepreneurs build great companies that make a positive impact on the world.

DCM's investment strategy is focused on early-stage startups that are working in areas such as artificial intelligence, robotics, fintech, and healthcare. The firm has a track record of success in identifying and investing in companies that have gone on to become industry leaders.


Portfolio

The firm has a focus on early-stage startups and has invested in companies that have gone on to become leaders in their respective markets. One notable investment in DCM's portfolio is in the ride-hailing company, Grab. DCM was an early investor in Grab, which started as a taxi-hailing service in Southeast Asia, but has since expanded to include services like food delivery and payments. Today, Grab is one of the most valuable startups in the region, with a valuation of over $40 billion. Here are some notable companies in DCM's portfolio:

  1. Grab - A Southeast Asian ride-hailing company valued at over $40 billion
  2. SoFi - A fintech company offering student loan refinancing and personal loans
  3. Robin - An AI-powered virtual assistant company used by businesses across industries
  4. Skydio - A drone company that has developed advanced autonomy and AI capabilities for drones
  5. Chain - A blockchain platform enabling the secure and efficient exchange of digital assets
  6. 17zuoye - An online education platform in China
  7. 1mg - An Indian digital healthcare platform
  8. Nervana Systems - A deep learning startup that was acquired by Intel
  9. Gengo - A translation services platform using AI and human translators
  10. Zhaogang - A B2B e-commerce platform for steel trading in China.

This is just a small sample of DCM's portfolio, which spans a wide range of industries and technologies. The firm has a track record of investing in companies that have gone on to become leaders in their respective markets, and is committed to supporting its portfolio companies as they grow and change the world.


References
DCM
Leadership team

IBRAHIM ALSUWAIDI (Principal)

MATTHEW C. BONNER (COO & Legal Partner)

DAVID CHAO (Co-Founder and General Partner)

DAVID CHENG (Principal)

OSUKE HONDA (General Partner)

JASON KRIKORIAN (General Partner)

ANDRÉ LEVI (Chief Financial Officer & Partner)

JIARUI WANG (Associate)

Number of Employees
0 - 50
Headquarters
Silicon Valley, California, United States
Established
1996
Social Media