DCM Newsletter — Q3 2023
DCM Firm News
DCM Announced Three New Partners
DCM announced the internal promotion of three new partners within the investment team: David Cheng in the U.S., Kenichiro (“Ken”) Hara in Japan and Fiona Huang in China. As partners, David, Ken and Fiona will help DCM’s entrepreneurs build, scale and sustain businesses globally.
Hurst Lin Named Among Chinese Investors in 2023 “Top 100” List
DCM’s Hurst Lin was recognized on the 2023 “Top 100 Investors in the Investment Industry” list. The 100 investors were selected from more than 1,000 candidates and chosen based on the industry influence of their institutions.
US
Opus Clip Launched 2.0 Version of Video Editing Platform
Opus Clip, the generative AI-powered video editing platform, launched the 2.0 version of its flagship product that effortlessly turns long videos into viral-ready shorts with a single click. Powered by GPT-4, Opus Clip 2.0 offers creators upgraded editing tools and more. DCM led Opus Clip’s Pre-seed round in 2023.
Verishop Teamed Up With Citi On Loan Program
Brand aggregator Verishop announced partnership with Citi to connect its retailers with lenders via Citi’s Bridge platform. This will improve Verishop merchants’ access to capital amidst the current funding landscape. DCM participated in Verishop’s Series A in 2018.
Skylo partnered with Soracom
Skylo, an NTN service provider, signed a deal with technology company Soracom to provide its satellite IoT through the company’s cloud-based IoT network management. This partnership will provide Soracom customers building IoT solutions and M2M devices access to Skylo’s NTN connectivity with Soracom’s cellular platform. DCM led Skylo’s Series A round in 2017.
Japan
CADDi Raised $89M Series C Funding Round
CADDi, a B2B supply chain marketplace, announced a $89M Series C funding round bringing total capital to $164 million. CADDi will use the funding to scale its business and help equipment manufacturing players that are facing supply chain issues. DCM led CADDI’s Seed round in 2018.
Enechain Opened Environmental Value Market
Enechain, the largest electricity forwarding market in Japan, recently opened an environmental value market for J-Credit and non-FIT non-fossil certificates. Demand for environmental value is expected to increase as emissions trading between companies working on decarbonization begins in the GX (Green Transformation) League. DCM led Enechain’s Series A round in 2022.
Global
Moove Announced $76 million in Equity Financing
Mobility fintech firm, Moove, raised $76 million in new funding, which includes $28 million in equity from new and existing investors, $10 million in venture debt from funds and accounts managed by BlackRock, and $38 million in previously undisclosed funds raised during the prior 12 months. The new funding will be used to expand and consolidate Moove’s position across EMEA. DCM participated in the Series A round for Moove in 2021.
Glints Drove Significant Revenue Growth During 2022 Fiscal Year
Southeast Asia-based talent community and platform, Glints, increased its global revenue by 85% year-on-year for the 2022 fiscal year through rising demand from employers seeking cross-border talent solutions to optimize costs. DCM co-led Glints oversubscribed Series D alongside Lavender Hill Capital and PERSOL Holdings in August 2022.
