Data Collective Tops Up Previously Closed Fifth and Sixth Funds for a New Total of $387 Million
By By Matt Ocko and Zachary Bogue 03.11.17
We at DCVC are pleased to announce an expansion of our previously closed deep-tech focused fifth and sixth venture funds to a new total of $387 million. We originally raised and closed these funds in less than 90 days at the beginning of 2016, thanks to the strong support of our highly-valued Limited Partners.
As we began to deploy these funds, we were approached by a few of the largest and most reputable investors in the world, who were not already among our LPs. In many cases, we had 20-year relationships with the leaders of their organizations and had always wanted to work together.
Complex deep tech investments can often take longer than SaaS or consumer companies on their path to creating exponential financial and societal returns. As a result, we welcomed the opportunity to enable us to back our disruptive companies more strongly on those journeys and to provide them access to an aggregate capital pool approaching $1 trillion for growth and strategic investments.
Our fifth fund is an early-stage (seed and Series A) venture fund, focused on the same deep tech strategy as our previous funds. Our sixth fund is an “opportunity fund” designed to make larger follow-on bets in our most successful early-stage companies.
Together, these funds will enable us to continue to be lead and long-time investors in a new generation of disruptive innovators like Zymergen, Planet, LendUp, Nervana (acquired:INTC), Freenome, Sentinel, Tala, Rigetti, Primer, Kindred, Isocline, Atomwise, Raptor Intelligence, and Karius.
DCVC continues to be proud of, and to refine, the “Collective” that’s part of our name. We support our founders with a unique model that unites a team of experienced venture capitalists with more than 50 technology executives and experts (CTOs, CIOs, Chief Scientists, Principal Engineers, Professors at Stanford and Berkeley) with significant tenures at top 100 technology companies and research institutions worldwide — all of whom have real economic interest in and deep commitment to our Funds. We’re continuing to add to this powerfully enabling resource with world-class expertise in computational biology, AI and machine learning, robotics, space systems, security and defense, ag genomics, and deep compute.