DCM Closes $500-Million Fund; DCM V Will Continue the Firm's Investment Emphasis on Early Stage Technology Companies in the United States and Asia

MENLO PARK, Calif. & BEIJING--(BUSINESS WIRE)--Aug. 2, 2006--Venture capital firm DCM announced today the closing of DCM V, a $500-million venture fund that brings the firm's capital under management to more than US$1.5 billion. The oversubscribed fund, which included the participation of virtually all existing limited partners, will continue DCM's emphasis on investing in early stage, information-technology companies in the United States, China and Japan.

"DCM's early stage investment strategy and unique access to opportunities in Asia have served our previous venture funds well, and will be the driving forces behind DCM V," said David Chao, co-founder and general partner of DCM. "We believe that the very high level of interest from returning limited partners and the speed with which this fund was closed are a genuine reflection of our achievements, and a sign of confidence that more opportunities lie ahead in the United States and throughout Asia."

“DCM's early stage investment strategy and unique access to opportunities in Asia have served our previous venture funds well, and will be the driving forces behind DCM V”

Expected to begin funding new portfolio companies in late 2006 or early 2007, DCM V follows four previous DCM venture funds, three of which are top-quartile performers, according to data from Cambridge Associates LLC. Recent portfolio-company exits include nine IPOs in capital markets worldwide over the past two years. Among the firm's successful exits are 51job (Nasdaq:JOBS), About.com (The New York Times Co.), All About (JASDAQ:2454), Foundry (Nasdaq:FDRY), Internap (AMEX:IIP), IPivot (Intel), JCI (Nasdaq Japan - Hercules:9424), Recourse Technologies (Symantec), and SMIC (NYSE:SMI). Other notable portfolio companies include BitTorrent, Dang Dang, HireRight, Neutral Tandem, PGP Corp., Sling Media and Worksoft.

"As we enter our 10th year, fund and portfolio company performances continue to improve, deal-flow quality is high and economic conditions remain solid in key industry sectors," said Dixon Doll, co-founder and general partner of DCM. "Our growing investment team, which includes the recent addition of General Partner Hurst Lin, as well as several promotions from within, will allow us to continue to expand our ability to fuel innovation among top entrepreneurs in key information-technology sectors on both sides of the Pacific."

The firm also announced today that three investment-team members have been promoted:

-- Carl Amdahl has been promoted to general partner.

-- Ruby Lu has been promoted to partner.

-- Gen Isayama has been promoted to principal.

About DCM

DCM is a top-performing venture capital firm supporting entrepreneurs building early-stage technology companies. DCM partners manage more than US$1.5 billion and have funded leading technology companies including 2Wire, 51job (Nasdaq:JOBS), @Motion (Openwave), About.com (The New York Times Co.), All About (JASDAQ:2454), Dang Dang, Foundry Networks (Nasdaq:FDRY), HireRight, Internap (AMEX:IIP), IPivot (Intel), JCI (Nasdaq Japan - Hercules:9424), Kabu.com (TSE:8703), nQuire (Siebel), PGP Corporation, Recourse Technologies (Symantec), Sigmatel (Nasdaq:SGTL), SMIC (NYSE:SMI), UUNet (MCI), Vimicro (Nasdaq:VIMC), and Worksoft. DCM offers hands-on operational guidance and access to an extensive network of resources, including close relationships with many of the Pacific Rim's leading companies and investors. For more information, please visit DCM's website at www.dcm.com.