DCM Ventures looks to raise $750m for ninth fund

DCM Ventures is looking to raise up to $750m for its ninth venture fund, FinTech Global can reveal.

The vehicle, DCM IX, has yet to register any capital, according to the latest US Securities and Exchange Commission filing. It is unclear if the $750m figure is a target or a hardcap.

Its predecessor closed on $500m in 2016 and received contributions from Baidu, Gree, Naver, SoftBank, Tencent, and Qualcomm. Its investment focus for fund 8 was global technology companies working in the digital media, software-as-a-service, FinTech, e-commerce, virtual reality, automated drone technology and AI industries.

The firm also recently closed a $170m turbo fund to support growth stage deals, and a $100m A-fund, which is entirely focused on seed stage investments across mobile service companies.

DCM, which has offices in Beijing, Silicon Valley and Tokyo, invests in seed, early and mid-stage startups within the mobile, consumer internet and software and services sectors. It currently has $3bn in assets under management, according to the company.

Earlier in the year, DCM contributed to the $44m Series C investment into China-based behaviour analysis and solution platform Sensors Data. The company delivers data-backed insights into a consumer for the digital banking, e-commerce, securities and retail industries.

Other FinTechs in its portfolio include travel expense solution provider TravelBankreal estate crowdfunding platform Duocaitou and e-commerce and online financial service provider Akulaku.

Several venture firms have closed funds with an interest in FinTech this month. Last week, Nordic Capital closed a colossal €4.3bn vehicle to invest across the financial services, healthcare and retail space, while Underscore VC bagged $115m for its second fund to back blockchain, AI and e-commerce companies.

Copyright © 2018 FinTech Global

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