Early stage technology investor DCM has closed its seventh fund on $330m, bringing its total assets under management to over $2.5bn.
In line with the firm’s previous funds, DCM said its Fund VII will be dedicated to investments in its core sectors including mobile, digital media, ecommerce, and consumer and enterprise services, across the US, China, and Japan.
Since 2009, 15 DCM portfolio companies have had successful exit events with an aggregate market capitalization of over $20bn, the firm said in a statement.
Cleantech companies the firm has invested in include consumer electronics energy storage firm Enovix, and Amalfi Semiconductor, which was acquired by RF Micro Devices.
Firm co-founder and general partner David Chao said, “DCM continues to gain momentum because of our differentiated global investment strategy, and we believe that the next 18 months will feature a continued string of successful exits for our portfolio companies.”
General partner Jason Krikorian added, “We’re positioned extremely well for the next technology cycle as transformative forces like the Internet of things and global mobile adoption accelerate opportunities on both sides of the Pacific Rim.”
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