DCM Ventures

DCM Ventures just raised $500 million

Recently DCM Ventures a Menlo Park, California based early stage Venture capital firm secured $500 million funding. Altogether, DCM is now managing more than $3 billion which is a lot of money, even for a firm that’s been around since 1996, But It has returned $1.5 billion to its investors over the last three years.

Firm raises money from traditional limited partners such as pension funds, but also some of Asia’s top internet companies, including Tencent, Baidu, SoftBank and Yahoo Japan.“Now people are more price sensitive,” Chao said in an interview with Reuters. “Now entrepreneurs don’t expect us to put a term sheet down in two weeks.” The firm is particularly interested in bets on artificial intelligence startups, messaging platforms, software-as-a-service, drones, virtual reality and cross-border technology, such as apps to teach a foreign language, said co-founder and general partner David Chao.

DCM Ventures, one of the few firms that has straddled China and Silicon Valley since its founding 20 years ago, has joined a rush of venture capital fundraising that put this year on pace to be the most lucrative since 2000, according to Thomson Reuters data.