DCVC
DCVC is a Palo Alto-based deep tech venture capital firm managing approximately $4 billion across 13 funds, backing founders applying AI and computational science to climate, life sciences, quantum, defense, and industrial challenges. The firm employs ~45 people and has invested in 200+ companies.
- Company typePrivate
- Founded2011
- HeadquartersPalo Alto, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What DCVC does
DCVC is a Palo Alto-based deep tech venture capital firm founded in 2011 by Matthew Ocko and Zachary Bogue as Data Collective, rebranding to DCVC while retaining Data Collective as a registered trademark. The firm invests across approximately $4 billion in assets under management spanning 13 funds, including six flagship DCVC funds and three DCVC Bio life sciences funds (the latter established in 2018 and co-led by Dr. John Hamer and Dr. Kiersten Stead). DCVC backs founders applying AI, exa-scale computing, and deep domain expertise to high-stakes problems in climate, energy, life sciences, defense, security, space, agriculture, advanced manufacturing, and quantum computing. The firm employs roughly 45 people across Palo Alto and San Francisco and explicitly emphasizes a scientist-led partnership structure ("more published scientists than MBAs") to underwrite capital-intensive hardware and biotech bets that competitor VCs decline.
The firm's revenue model combines recurring management fees on committed capital across its fund vehicles (with the most recent vintage closing at $700M+ in flagship funds and $400M for DCVC Bio III in 2024) and lumpy, performance-based carried interest tied to portfolio exits such as the May 2026 Fervo Energy IPO (Nasdaq: FRVO) and prior exits including Rocket Lab, SentinelOne, Confluent, AbCellera, Elastic, Databricks, Planet, Zymergen, Ginkgo Bioworks, and Oklo. Distribution of capital occurs via direct LP fundraising and a co-investor syndicate that includes Founders Fund, Andreessen Horowitz, Playground Global, Activate Capital, Munich Re Ventures, and Breakthrough Energy Ventures, while deal sourcing relies on partner-led founder engagement reinforced by an owned editorial platform (annual Deep Tech Opportunities Report, Climate Impact Report, quarterly newsletter, 47 archived press releases).
The 200+ company portfolio is organized across content verticals — AI/Compute/Quantum, Computational Bio & Chem, Cybersecurity/Defense, Energy & Climate, Industrial Transformation, Next-Gen Agriculture, Space, TechBio, and TechMed — and ranges from seed through Series D+. Notable positions span Fervo Energy (geothermal, IPO'd May 2026), Atom Computing and Quantum Motion (quantum), Mythic and Unconventional AI (AI compute), Agility Robotics (humanoid robotics, planning SPAC at ~$2.5B), Proxima (AI-native therapeutics), Halter (precision agriculture), ElectronX (energy derivatives), Radiant (nuclear microreactors), Slip Robotics (automated truck loading), and ZwitterCo (membrane technology), among others.
DCVC firmographics
Firmographics- Name
- DCVC
- Legal name
- DCVC Management Co, LLC
- Website
- https://dcvc.com
- Company type
- Private
- Founded year
- 2011
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- DCVC is a Palo Alto-based deep tech venture capital firm managing approximately $4 billion across 13 funds, backing founders applying AI and computational science to climate, life sciences, quantum, defense, and industrial challenges. The firm employs ~45 people and has invested in 200+ companies.
- Ownership category
- akta.pro rank
DCVC industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940), Funds, Trusts, and Other Financial Vehicles (525)
- SIC
- Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- Corporate Venture Capital (CVC) (FSANAAAF)
- akta.pro secondary industry
- Corporate Deep Tech / R&D Commercialization CVC (FSANAHAL)
Keywords
Where DCVC is headquartered
LocationHeadquarters
- HQ city
- Palo Alto
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
DCVC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Fund management fees: Recurring management fees on the firm's $4B AUM, generated across 13 funds to date (including six flagship DCVC funds and three DCVC Bio funds)
- Carried interest on fund returns: Performance-based carried interest earned when portfolio companies exit via IPO or acquisition (e.g., recent IPOs include Fervo Energy on Nasdaq: FRVO; prior exits include Rocket Lab, SentinelOne, Confluent, AbCellera, Elastic, Amplitude, Desktop Metal, Ginkgo Bioworks, Oklo, Evolv Technology, Planet, Zymergen, Databricks, Embark, AgileAI via acquisitions)
- Co-investment and syndication economics: DCVC frequently co-leads and participates in rounds alongside co-investors (e.g., Kembara, Playground Global, Founders Fund, a16z, B Capital, Activate Capital, Munich Re Ventures, British Business Bank, Breakthrough Energy Ventures), sharing economics from rounds led by the firm or in which it participates
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Fund commitments to limited partners (LP allocations) — terms not publicly disclosed |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels8 records
DCVC product offering
Product offeringCore offering
DCVC is a deep tech venture capital firm that invests from seed through growth stage using a scientist-led diligence approach across AI, compute, quantum, climate, energy, life sciences, defense, space, and industrial sectors. The firm manages approximately $4 billion in assets under management across 13 funds, including six flagship DCVC funds and three DCVC Bio life-sciences funds, deploying patient capital and operating-partner support to founders addressing trillion-dollar real-world problems.
Differentiator
Problem solved
Functional benefit
Products and services
- DCVC Flagship Deep Tech Funds DCVC's six flagship venture capital funds that back companies using AI and deep tech to tackle trillion-dollar real-world problems across climate, energy, defense, security, compute, and industrial sectors. Managed by Managing Partners Matt Ocko and Zachary Bogue.
- DCVC Bio (Life Sciences Funds) DCVC's life-sciences venture capital franchise (est. 2018) comprising three funds that back companies applying AI, computational biology, and deep biotech to human health, agriculture, and synthetic biology. Co-founded and led by Dr. John Hamer, Dr. Kiersten Stead, Matt Ocko, and Zachary Bogue.
- DCVC Bio III Fund Third and largest life-sciences fund under the DCVC Bio franchise, closed at $400 million in September 2024 for investing in DCVC Bio portfolio companies in human health, agriculture, and synthetic biology.
Quantifiable outcome
- 2024 Deep Tech Opportunities Report and Climate Impact Report published; over $700M in new DCVC Climate funds closed in 2024
- +3 more outcomes
Companies that use DCVC
Customer profileSegments6 records
Ideal customer profiles2 records
DCVC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
DCVC partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered flagship and core.
- U.S. Department of Commerce (CHIPS R&D Office)flagshipDCVC explicitly highlighted a $2B U.S. Department of Commerce investment across nine quantum companies, materially involving four DCVC portfolio companies: Atom Computing ($100M equity stake), Quantum Motion (via $375M allocation to GlobalFoundries), Rigetti Computing ($100M), and Q-CTRL (with IBM, which received $1B). DCVC engages directly with federal quantum policy through Operating Partner Dr. Prineha Narang.
- Government of Saudi Arabia (Ministry of Industry and Mineral Resources)flagshipDCVC engaged in a ministerial meeting at the Milken Institute Global Conference 2026 with Tidal Metals and the U.S. side, targeting cooperation with Saudi Arabia in mineral exploration and processing technology as part of the Kingdom's Vision 2030 strategy.
- Nasdaq Stock MarketflagshipDCVC partner Zachary Bogue and Dr. Rachel Slaybaugh joined Fervo Energy co-founders Tim Latimer and Jack Norbeck on the podium to ring the Nasdaq opening bell in celebration of Fervo's IPO under ticker FRVO. Fervo was first invested by DCVC in 2022 and represents one of the firm's flagship climate tech exits.
- GlobalFoundries (via Quantum Motion)coreGlobalFoundries is the foundry manufacturing partner for DCVC portfolio company Quantum Motion, enabling production of silicon-spin-qubit quantum chips using standard CMOS processes; the U.S. Department of Commerce allocated $375M to GlobalFoundries to scale this capacity.
- Microsoft (via Atom Computing)coreMicrosoft is partnering with DCVC portfolio company Atom Computing to install the world's first commercial quantum computer with logical qubits — a significant ecosystem relationship that anchors the Atom Computing roadmap and reinforces DCVC's quantum portfolio thesis.
- Gates FoundationcoreGates Foundation participated in Kanvas Biosciences' $48M Series A (co-led by DCVC and Lions Capital) and is partnering with Kanvas on a synthetic microbiome product for maternal environmental enteric dysfunction, a condition affecting ~150M people worldwide primarily in Southern Asia and Sub-Saharan Africa.
Scale indicators9 records
Recent moves6 records
Expansion highlights6 records
DCVC competitors and assessment
Company assessmentDirect peers
- Playground Global:
- Lux Capital: Lux Capital is a deep tech venture capital firm investing across AI, compute, quantum, space, biology, and advanced manufacturing, with a scientist-led partnership model nearly identical to DCVC. Both firms compete directly for the same founder pool and co-invest alongside each other in quantum and life sciences rounds.
- Khosla Ventures: Khosla Ventures is a large deep tech and climate venture firm with $15B+ AUM and a comparable science-led thesis spanning clean energy, biotech, AI, and frontier tech. It is one of the most direct competitors for DCVC's deep tech deal flow and is co-listed alongside DCVC in quantum investor rankings.
- Breakthrough Energy Ventures: Breakthrough Energy Ventures is a $2B+ climate-focused venture fund backed by Bill Gates that invests in companies addressing climate change across energy, agriculture, transportation, and industrial decarbonization. It is a co-investor with DCVC in companies such as Fourth Power and shares the climate deep tech mandate.
Broad incumbents
- Andreessen Horowitz (a16z): Andreessen Horowitz operates a $35B+ multi-stage venture franchise spanning bio/health, crypto, infrastructure, and increasingly deep tech. While not a pure-play deep tech firm, a16z increasingly competes for the same quantum, robotics, and defense founders (e.g., co-led Chariot Defense with DCVC).
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
DCVC social profiles
Digital presenceDCVC financial estimates
Financial estimateRevenue estimate
Valuation estimate
DCVC leadership team
Management profileNumber of profiles
Profiles14 records
DCVC subsidiaries and ownership
Company hierarchySubsidiaries1 record
DCVC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
DCVC M&A and investment
M&A and investmentM&A
Investments597 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about DCVC
What does DCVC do?
DCVC is a deep tech venture capital firm that invests from seed through growth stage using a scientist-led diligence approach across AI, compute, quantum, climate, energy, life sciences, defense, space, and industrial sectors. The firm manages approximately $4 billion in assets under management across 13 funds, including six flagship DCVC funds and three DCVC Bio life-sciences funds, deploying patient capital and operating-partner support to founders addressing trillion-dollar real-world problems.
Is DCVC a public or private company?
DCVC is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was DCVC founded?
DCVC was founded in 2011. It employs 11 to 50 people.
Where is DCVC based?
DCVC is headquartered in Palo Alto, United States, in the North America region.
How does DCVC make money?
Three revenue lines are on record. Fund management fees are the primary driver. The others are carried interest on fund returns and co-investment and syndication economics.
Who are DCVC's main competitors?
Direct peers on record are Playground Global, Lux Capital, Khosla Ventures and Breakthrough Energy Ventures. Andreessen Horowitz (a16z) is listed as a broad incumbent.
Does DCVC have an API?
No public API is recorded for DCVC.
What industry is DCVC in?
DCVC's product category is Venture Capital. Its primary akta.pro industry code is FSANAAAF, Corporate Venture Capital (CVC), with a secondary code of FSANAHAL, Corporate Deep Tech / R&D Commercialization CVC. Its NAICS code is 523940 and its SIC code is 6159.