DCM Ventures

Overview

HQ in Menlo Park with offices in Tokyo and Beijing; invests across US, China and Japan.

Notable portfolio companies

• Bill.com
• Kuaishou
• SoFi
• Matterport
• GigaCloud Technology

Funds

LPs on the record

1 private foundation lists on their latest IRS Form 990-PF, and 5 other LPs report holding DCM Ventures’s funds.

• Alaska Permanent Fund Corporation (APFC) Sovereign wealth fund · 3 funds
• National Elevator Industry Pension Plan Union pension plan · 2 funds
• CalSTRS Public pension plan · 1 fund

3 more LPs are in the app. Find LPs that back firms like this one in Hottub’s LP Intelligence: ranked by overlap, with what each holds and how to reach it.

Firms whose LPs overlap

The firms sharing the most LPs on record with DCM Ventures, relative to how many LPs each has. A peer set like this is what Find LPs ranks LPs from.

• Vantagepoint Capital Partners 2 LPs in common
• Highland Capital Partners 2 LPs in common
• Lightspeed Venture Partners 3 LPs in common
• New Enterprise Associates 3 LPs in common
• ARCH Venture Partners 2 LPs in common
• Spark Capital 2 LPs in common

Find LPs for DCM Ventures and these firms: Hottub ranks the LPs that hold their funds, the ones still adding funds first.

Track record

A score of 65 out of 100 from one of the 4 funds public LPs report, in the top half of its vintage. Its ranked funds’ median TVPI is 3.41x and median DPI 3.41x. Pooled where reports give cash flows: 3.41x TVPI, 3.41x DPI. That ranks it 26th of 123 managers with a score.

Each fund once, as the latest of 3 LPs’ reports ranks it by TVPI against funds of the same vintage in those reports; 50 is the median fund, and a short record is pulled toward 50. The full record in LP Intelligence, with each fund’s rank and what usually follows a fund like its latest, or every manager’s.

Reported fund performance

As reported by public LPs that invested in these funds, net of fees. “Versus vintage” ranks each fund against every other fund of the same vintage in that LP’s report, mostly private equity and venture funds. Open a fund for its cash flows and full peer ranking.

Alaska Permanent Fund Corporation (APFC): APFC Private Equity Report: Private Equity Fund Commitments & Direct Investments / Co-Investments, as of December 31, 2025. APFC's quarterly Private Equity report ("Private Equity Fund Commitments & Direct Investments / Co-Investments") lists each fund with only its currency, "Vintage Year" and "Commitment (USD)", shown here in whole US dollars as printed. It reports no contributions, distributions, market value, multiple or IRR per fund, so paid-in, distributed, total value, IRR, TVPI and DPI are blank; nothing is derived or estimated. All 454 entries of the report's "Fund Investments" list are included ($17,570,561,197 committed); 15 have the vintage year "TBD" (blank here) and 45 are commitments in another currency that APFC states in US dollars. The report's separate "Direct Investments / Co-Investments" list (56 entries, $2,792,151,600: portfolio companies, co-investment vehicles and manager stakes) is not imported. The two lists add up to the report's printed Total Commitments of $20,362,712,795. For the whole portfolio, including liquidated investments, the report prints Cumulative Contributions of $20,951,089,446, Cumulative Distributions of $22,493,801,627 and a Remaining Fair Market Value of $15,555,575,745. APFC is a state-owned corporation that manages the Alaska Permanent Fund, not a pension plan; its separate Private Income report is not imported. View source

CalSTRS: CalSTRS Private Equity Portfolio Performance, as of June 30, 2025. Since-inception IRR as calculated by CalSTRS from its own cash flows with each partnership; CalSTRS does not label it net or gross; because it is computed from CalSTRS's own contributions and distributions, it is after the partnership's fees and carried interest. CalSTRS says IRRs in a partnership's first three years are not meaningful. CalSTRS reports no multiple: TVPI = (distributed + market value) / contributed and DPI = distributed / contributed are computed. IRR is blank for commitments with no capital contributed. View source

Kentucky Public Pensions Authority (KPPA): KPPA Quarterly Performance Update: Monthly Investment Manager Performance (Net of Fee), Private Equity, as of June 30, 2026. KPPA's quarter-end performance report lists each private equity account of its pension trusts and of its insurance (retiree health) trusts with a "Market Value" under "Monthly Investment Manager Performance (Net of Fee)". The market value shown here is the pension and insurance amounts for the same account added together and rounded to whole dollars (52 of the 55 funds are held by both). KPPA reports no commitment amount, contributions, distributions, vintage year, multiple or IRR per fund, so committed, paid-in, distributed, total value, IRR, TVPI and DPI are blank; nothing is derived or estimated. The report's per-account returns are time-weighted returns net of fees, not IRRs, and its inception dates are account dates, not vintage years; neither is shown. Fund names are the custodian's abbreviations as printed; the same fund appears on separate lines when it is held through separate accounts. Every account under the report's PRIVATE EQUITY heading is included as KPPA classifies it, except its internally managed private equity accounts ($147,771,921), which are not funds. With those, the accounts add up to the report's Private Equity totals of $1,048,153,430 (pension) and $446,157,071 (insurance), which cover all the systems KPPA invests for (KERS, CERS and SPRS). The same report says private equity is valued with a one-quarter lag (as of 3/31/26). Specialty credit, real estate and real return funds are listed separately in the report and are not imported. View source