DCVC has pulled in $725m for its latest fund which will focus on opportunities within deep tech.
It will back early-stage companies as well as doubling down on later stage opportunities as they come to fruition in its portfolio.
DCVC V marks the investors eight fund since it was founded in 2012. The firm’s previous fund closed in late 2016 with a capital pool of $212m.
There are six key sectors DCVC will focus on industrial transformation, computational bio and health, geospatial intelligence, computational risk reduction, resiliency, and foundational technology.
DCVC has already tapped this new vehicle to participate in the $150m Series B of Element AI. The FinTech is used to bolster cybersecurity solutions by ensuring the right access to documents and information is given to those when it is needed.
In a blog post announcing the fund close, DCVC said, “Increasingly over the last decade, the companies we fund have addressed a broader spectrum of global GDP with each successive year. With DCVC V, we are largely focused on disruption in the $20+ trillion of GDP of the global economy, not incremental change in the $3 trillion IT sector.
“DCVC V exemplifies the shared belief of our LPs, our team, and our co-investors – that venture capital is an essential catalyst to validate, prove, and deliver new technologies that civilization now demands.”
The firm’s portfolio comprises of a number of cybersecurity platforms including behavioural-based web protection from automated attacks PerimeterX, socially engineered attack prevention software Area 1 Security, and enterprise-grade security solution Anjuna.
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