DCVC

Overview

2024 announcement covers specialist vehicles; a newer core flagship (post-DCVC V) size not confirmed.

Funds

LPs on the record

6 private foundations list on their latest IRS Form 990-PF, and 3 other LPs report holding DCVC’s funds.

• Andra AP-fonden (AP2) Public pension plan · 7 funds
• New Mexico State Investment Council State investment fund · 2 funds
• The Shimon Ben Joseph Foundation Dba Jim Joseph Foundation Private foundation · 2 funds

6 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 DCVC, relative to how many LPs each has. A peer set like this is what Find LPs ranks LPs from.

• Ridge Ventures 2 LPs in common
• Lowkey Services Company, Ltd. 2 LPs in common
• Avf Management LLC 2 LPs in common
• Acrew Diversify Capital Management, L.P. 2 LPs in common
• Juxtapose 2 LPs in common
• Andreessen Horowitz 3 LPs in common

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

Track record

A score of 28 out of 100 from 2 of the 7 funds public LPs report, 0 of them in the top half of their vintage. Its ranked funds’ median TVPI is 0.92x and median DPI 0.11x. Pooled where reports give cash flows: 0.95x TVPI, 0.15x DPI. That ranks it 118th 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.

Andra AP-fonden (AP2): AP2 holdings: Non-listed equities, participations and loans, as of December 31, 2025. AP2 lists each fund it holds at the year end with a country, an asset class and one amount, its "Acquisition value" in whole millions of Swedish kronor. AP2 does not define that amount: it is not a commitment and not a current value, and AP2 does not say whether capital a fund has returned is taken off it. No amount is stored here for that reason: this is a list of the funds AP2 holds, by name, and the amounts are in AP2's own list (the source). AP2 reports no commitment, fair value, distributions, vintage year, multiple or IRR per fund. Included are the 201 lines AP2 classes as "Private equity" among its "Other non-listed" Swedish and foreign holdings (acquisition values adding up to SEK 45749 million; the list prints no total); they include venture, growth, buyout, fund-of-funds and co-investment vehicles, and a few funds whose names say they lend. The 47 lines AP2 classes as private credits, real estate, sustainable infrastructure or natural climate solutions are left out, as are the 12 lines of its associated companies and loans. View source

Employees' Retirement System of Rhode Island (ERSRI): ERSRI Private Equity Performance - Active Portfolio (Rhode Island State Investment Commission book), as of March 31, 2026. "Net IRR (%)" and "Net Multiple of Investment" as printed in the Rhode Island State Investment Commission's monthly book, which says the multiple divides cumulative distributions and current value, after fees, by the capital paid in, and that the calculations are specific to the ERSRI investment and were not prepared, reviewed or approved by the general partners. 12 recent commitments are marked N/M (not defined in the report) and have no IRR or multiple. The book prints the listing twice (sorted by vintage year and by name); the two printings give a different Net IRR and multiple (a figure in one, N/M in the other) for Wynnchurch Capital Partners VI, which is left blank. The net multiple is used as TVPI; contributions are the Amount Drawn column, total value = Amount Distributed + Valuation and DPI = Amount Distributed / Amount Drawn are computed, in whole dollars as printed. 11 funds have a commitment printed in a foreign currency rather than dollars; for 7 of them the printed multiple does not equal (distributed + valuation) / drawn, and the report's "Total (in USD)" exceeds the sum of its rows by $43,302,434 drawn and $48,104,368 distributed, so the drawn and distributed columns of these rows do not appear to be in US dollars. For all 11, the commitment, contributions, distributions, total value and DPI are left blank and only the vintage, Net IRR and net multiple are imported. The report prints 1 row twice with identical figures (Industry Ventures Partnership Holdings IV - Secondary); it is imported once. All rows of the Private Equity Performance - Active Portfolio listing as classified by ERSRI (77 Buyout, 1 Fund of Funds, 10 Growth Equity, 4 Opportunistic Credit, 19 Venture Capital); the separate Private Credit, Real Estate and Private Infrastructure listings are not imported. The listing covers the active portfolio only, and its "Other Funds in Aggregate" row ($25,000,000 committed to funds whose confidentiality provisions do not permit disclosure of their performance) is not imported. The report's "Total (in USD)" row ($3,050,786,312 committed, $2,015,747,862 valuation) converts the foreign-currency commitments and does not reconcile exactly to the listed rows. The book's Portfolio Summary counts 121 private equity investments behind that total while the listing prints 112 rows, so the total also covers commitments that are not listed. View source

New Mexico State Investment Council: New Mexico State Investment Council Private Equity Performance Updates: Fund Summaries (Active Funds), as of March 31, 2026. Net IRR and net multiple since inception as printed in the fund summaries of the quarterly performance updates that Mercer prepares for the Council (data source given as Invient), published in the Council's public meeting materials. The fund summaries head the two columns "Net" (Multiple, IRR); their total rows equal the "Net Multiple" and "Net IRR" of active commitments in the reports' dashboards. The net multiple is used as TVPI. The fund summaries give only committed capital, exposure (NAV + unfunded), net multiple and IRR for each fund, so contributions, distributions, total value and DPI are blank; contributions and distributions are reported by program and strategy only. Committed capital is reported in $ millions to one decimal and converted to whole dollars. Vintage year is defined by the reports as the year of the fund's first cash flow. 27 of the newest funds are marked N/A or NM (not defined in the reports) and lack an IRR, a multiple or both. The IRR of The Veritas Capital Fund IX, L.P. is printed as "#######" (not readable) and is blank. Frazier Healthcare Growth Buyout Fund XI, L.P. is printed with a negative multiple, imported as printed. Two reports are combined: the National Private Equity Program (175 active funds, $11,121.7 million committed; 32 Venture Capital, 93 Buyout, 33 Growth, 17 Special Situations) and the Strategic Venture Capital Program and New Mexico Private Equity Investment Program (Legacy) (83 active funds, $2,346.3 million committed; 76 Fund Investments, 5 Co-Investment Funds, 1 Catalyst Fund, 1 Recovery Fund). The second report covers the Council's New Mexico-focused venture and private equity commitments, including its own co-investment, catalyst and recovery vehicles. Active funds only: liquidated and sold funds are reported in aggregate, not by fund. The Private Debt, Real Estate and Real Assets reports in the same materials are not imported. View source