DCVC News
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growth-positive
DCVC Bio founders look for more quick returns, less overhyped AI, with new $400 million fund
DCVC Bio, a Silicon Valley-based investment firm, has successfully raised a new $400 million fund, surpassing its original goal of $350 million. This marks the third fund raised by DCVC Bio, positioning it among a select group of biotech venture capital firms to secure new capital this year. The announcement is significant given the slowdown in biotech fundraising, with only 15 funds raised halfway through the year compared to 53 last year and 85 in 2022. The news highlights DCVC Bios continued growth and influence in the biotech investment landscape.
Investment
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DCVC wanted to raise $500M for its first climate fund, but the market had other plans | TechCrunch
DCVC, a Silicon Valley VC firm, has been adjusting its target for its first climate-focused fund, DCVC Climate Select, due to fluctuating venture fundraising conditions. Initially launched with a $500 million target in December 2022, the firm lowered its target to $300 million after only securing $157 million of commitments by the end of 2023. However, a recent commitment of $50 million from New Mexico SIC and other positive developments have led to expectations that the fund may reach $400 million. The fund aims to invest in mid-stage climate startups, an area DCVC believes is currently underfunded.
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