Venture Capital

DCM Ventures

DCM Ventures (formerly Doll Capital Management, and commonly known as DCM) is an early-stage venture capital firm founded in 1996 by Dixon Doll, a former Accel partner, and David Chao, and headquartered at 2420 Sand Hill Road in Menlo Park, California with additional offices in Beijing and Tokyo. DCM was among the first Silicon Valley firms to build a cross-border, US-Asia investing practice, and typically leads early-stage rounds with checks in the roughly $1M-$5M range, deploying capital into a small group of category-defining companies each year rather than investing broadly. The firm's thesis has evolved from its original focus on communications and semiconductors toward consumer internet and SaaS, and today centers on vertical SaaS, fintech, cross-border innovation, and AI-native applications across the United States, China, Japan, and Southeast Asia. As of 2025 DCM manages approximately $4.5 billion in assets and reports 400+ portfolio companies, 35+ unicorns, and over $150 billion in aggregate market value, with notable investments including SoFi, Bill.com, Kuaishou, Matterport, 51job, Careem, and Sansan.

151 portfolio companies 151 publish APIs here 10 properties
Venture CapitalSeedSeries AEarly StageVertical SaaSFintechEnterpriseArtificial IntelligenceCross-BorderUnited StatesChinaJapanAsia
Portfolio Strength across 40 profiled portfolio companies on the network
1 top-rated API companies 1 exemplar · 0 strong
8 agent-ready companies 0 agent-native · 8 agent-ready
Average quality of the book:
Composite thin 33.5
Agent-Readiness agent-aware 19.5

Firms are ranked by cumulative portfolio strength — how many highly-rated API companies they've backed, weighted by tier across composite quality and agent-readiness. The averages below are a secondary read on the typical company in the book.

DCM Ventures has 151 portfolio companies tracked on the APIs.io network, of which 40 (26%) publish APIs indexed here. The remaining 111 are tracked as profiles without a published API on the network.

Its highest-rated API providers on the network are Ustream, Picsart, Button, Udesk, DocSend.

Portfolio on the Network

Portfolio companies that publish APIs indexed on APIs.io, grouped by their API Evangelist rating. Exemplar and Strong are expanded by default.

Exemplar 1 Complete, well-documented, and agent-ready
Developing 17 Usable, with meaningful gaps to close
Thin 12 Limited public surface area
Emerging 9 Early or largely undocumented
Minimal 1 Almost no public developer surface

Properties

Portfolio

Where the firm publishes its investments

Team

Partners and investing staff

Firm

The firm itself

Cohort brief

Auto-generated

The 139 portfolio companies with APIs in the catalog, backed by DCM Ventures, scored on the Kin Score. Every figure below is computed from the catalog — nothing here is written.

Providers
139
of 151 on the roster
Mean Kin Score
16.1
-6.8 vs catalog 22.9
Mean Agent Readiness
6.5
-5.5 vs catalog 12
Spread
2.5–65
median 10.2 · σ 14.5
How the 139 split by band
Exemplar 0Strong 1Developing 17Thin 13Emerging 31Minimal 77
Facet averages, against the whole catalog
FacetThis cohortCatalogDifferenceScored
Contract Governance 3.5 6.3 -2.8 139
Discoverability 55.2 58.2 -3 139
Operational Transparency 7.6 13.6 -6 139
Access Clarity 19.9 26.4 -6.5 139
Developer Ergonomics 16.4 23.1 -6.7 139
Contract Quality 9.2 17.6 -8.4 139

A facet is averaged over the members that carry it, not over the whole cohort — the “Scored” column is that count. Averaging an absent facet as zero would score our own coverage gaps as the providers’ posture.

What this cohort publishes
ArtifactThis cohortCatalogDifference
MCP server (any) 8% 15% -7
MCP server (first-party) 6% 12% -6
Agent Skills 0% 0% 0
OAuth scopes 6% 11% -5
Security 100% 98% +2
Arazzo workflows 1% 2% -1
Governance rules 6% 13% -7

mcp_pct counts any mcp/ artifact including ones API Evangelist derived from the provider OpenAPI; mcp_first_party_pct counts only servers the provider publishes. Prefer the latter.

Top by Kin Score
  1. 1 IBM 65
  2. 2 Picsart 52.4
  3. 3 Button 50.5
  4. 4 Udesk 49.5
  5. 5 DocSend 48.5
  6. 6 Fxiaoke 48.4
  7. 7 Opus 47.7
  8. 8 Wrike 46.1
  9. 9 UniUni 45.5
  10. 10 Sensors Data 43.2
Top by Agent Readiness
  1. 1 Opus 54.4
  2. 2 DocSend 47.1
  3. 3 IBM 37.3
  4. 4 Wrike 33.5
  5. 5 EZR 31.7
  6. 6 Sensors Data 30.7
  7. 7 UniUni 30.3
  8. 8 UCloud 29.1
  9. 9 Lingopal 29
  10. 10 Kuaishou 28.5
This roster declares 151 members; 146 resolve to a provider in the catalog and 139 carry a score (95%). The figures above describe the scored members only.
Coverage caveat. 132 of 139 scored members had under half their catalog-attributable points satisfied at all (catalog_earned / catalog_max < 0.5). They are INCLUDED in the mean above. A large share here means the cohort mean is partly a measurement of how far our enrichment reached, not only of how these providers publish.Generated from the catalog build of 3 October 2026, across 28834 providers, using the same computation served by the APIs.io cohort API. Briefs are published for rosters of 5 or more scored providers; below that a distribution is not meaningful.

Source (apis.yml)

apis.yml Raw ↑
aid: dcm-ventures
name: DCM Ventures
description: >-
  DCM Ventures (formerly Doll Capital Management, and commonly known as DCM) is an early-stage venture
  capital firm founded in 1996 by Dixon Doll, a former Accel partner, and David Chao, and headquartered
  at 2420 Sand Hill Road in Menlo Park, California with additional offices in Beijing and Tokyo. DCM was
  among the first Silicon Valley firms to build a cross-border, US-Asia investing practice, and typically
  leads early-stage rounds with checks in the roughly $1M-$5M range, deploying capital into a small group
  of category-defining companies each year rather than investing broadly. The firm's thesis has evolved
  from its original focus on communications and semiconductors toward consumer internet and SaaS, and today
  centers on vertical SaaS, fintech, cross-border innovation, and AI-native applications across the United
  States, China, Japan, and Southeast Asia. As of 2025 DCM manages approximately $4.5 billion in assets and
  reports 400+ portfolio companies, 35+ unicorns, and over $150 billion in aggregate market value, with
  notable investments including SoFi, Bill.com, Kuaishou, Matterport, 51job, Careem, and Sansan.
deliveryModel:
  model: unknown
  open_source: false
  commercial: false
  callable_host: false
  label: Delivery model not determined — needs a product licence on record
  confidence: low
  source:
  - none
  generated: '2026-08-28'
  method: derived
accessModel:
  pricing: unknown
  onboarding: unknown
  trial: false
  try_now: false
  public: false
  label: Unknown
  confidence: low
  source: []
  generated: '2026-07-22'
  method: derived
image: https://www.dcm.com/favicon.ico
x-type: venture-capital
x-category: Venture Capital
created: '2026-07-17'
modified: '2026-07-17'
specificationVersion: '0.23'
tags:
  - Venture Capital
  - Seed
  - Series A
  - Early Stage
  - Vertical SaaS
  - Fintech
  - Enterprise
  - Artificial Intelligence
  - Cross-Border
  - United States
  - China
  - Japan
  - Asia
apis: []
common:
  - type: Website
    url: https://www.dcm.com/
  - type: Portfolio
    url: https://www.dcm.com/companies
  - type: Portfolio
    url: portfolio/dcm-ventures-portfolio.yml
  - type: Team
    url: https://www.dcm.com/team
  - type: Team
    url: team/dcm-ventures-team.yml
  - type: InvestmentThesis
    url: https://www.dcm.com/about
  - type: Contact
    url: https://www.dcm.com/contact
  - type: Crunchbase
    url: https://www.crunchbase.com/organization/dcm
  - type: LinkedIn
    url: https://www.linkedin.com/company/dcm/
  - type: Twitter
    url: https://twitter.com/dcm_vc
  - type: Features
    data:
      - "Stage: Seed, Series A, Early Stage"
      - "Typical check: ~$1M-$5M (leads early-stage rounds)"
      - "Sectors: vertical SaaS, fintech, consumer internet, enterprise, cross-border, AI-native applications"
      - "Geography: United States, China, Japan, Southeast Asia (US-Asia cross-border)"
      - "AUM: ~$4.5B (as of 2025)"
      - "Portfolio: 400+ companies, 35+ unicorns, $150B+ aggregate market value (self-reported)"
      - "Founded: 1996"
      - "HQ: 2420 Sand Hill Road, Menlo Park, California, USA (offices in Beijing and Tokyo)"
    sources:
      - https://www.dcm.com/about
      - https://en.wikipedia.org/wiki/DCM_Ventures
      - https://www.dcm.com/companies
    updated: '2026-07-17'
maintainers:
  - FN: Kin Lane
    email: info@apievangelist.com
    url: https://apievangelist.com
  - FN: APIs.json
    url: http://apisjson.org
  - FN: DCM Ventures
    url: https://www.dcm.com/

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