About DHVC
DHVC is a venture capital firm founded in 2013. It is primarily based out of Palo Alto, United States. As of Jun 2024, DHVC has invested in 142 companies. It primarily invests in Seed round in United States based startups. Its investments are spread across a wide range of sectors from High Tech to Enterprise Applications and Blockchain Technology. Most recently it participated in the $***** Series A round of Ink Finance Overall, DHVC portfolio has seen 11 unicorns, 5 IPOs and 27 acquisitions including key companies like Lime, Moneylion and Rippling. A lot of funds co-invest with DHVC, with names like NGC Ventures sharing a substantial percentage of its portfolio. DHVC has team of 8 people including 5 partners.Key Metrics
DHVC's List of Top Investments
DHVC has a portfolio of 142 companies, including 11 unicorns. Their most notable investments are in fclassroom and Qeexo.Their portfolio spans across United States, China, Singapore and 10 more locations. They have invested in High Tech, Enterprise Applications, Blockchain Technology and 25 other sectors, across stages such as Series A, Seed and 3 more. Here is the list of top investments by DHVC:1. Lime
App-based rental platform providing self-drive electric kick-scooter. The platform enables users to find the nearest available scooter and start the ride by scanning their QR code or access code. Users should provide rider details, payment details, location, and more for book the scooter. It offers features like variant payment options, and more. At the end of the ride, users can park the vehicle at their legal locations. Their mobile app is available for Android and iOS devices
Key facts about Lime
- Founded Year: 2017
- Location: San Francisco (United States)
- Stage: Public
- Total Funding till date: $1.71B
- Employee Count: 2,726 as on Jun 30, 2026
- Investors: Meritech, Star Tech NG and 98 Others
- Latest Funding Round: Series D, Jul 04, 2022, $*****
- Highlight: Public
2. Moneylion
Online platform for instant consumer loans and mobile banking. Its product offerings include installment loans, line of credit, pre-paid debit cards, and point-of-sale financing. It also offers loan comparison, savings, investments, and more.
Key facts about Moneylion
- Founded Year: 2013
- Location: Sandy (United States)
- Annual Revenue: $500M - $1B as on Dec 31, 2024
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $268M
- Employee Count: 490 as on Jun 30, 2026
- Investors: Arc Ventures, PEAK6 and 20 Others
- Latest Funding Round: Series C, Jul 23, 2019, $*****
- Highlight: Acquired
3. Rippling
Cloud-based suite solution for HR management. It offers automated onboarding and offboarding solution for the organizations. The product is an employee management software solution with features such as payroll administration, employee benefits management, headcount planning, feedback surveys, shift scheduling, learning management and more. It also offer products such as workflow studio, reporting analytics, policies management and more. It is a tool available on the subscription based pricing model.
Key facts about Rippling
4. Dialpad
Provider of AI-powered contact center and unified communications platform solutions. The platform offers customer service, outbound sales, and all-in-one communication tools. It provides features such as AI agents, integrations with various applications, and analytics. The platform aims to streamline business communications and improve customer experience.
Key facts about Dialpad
- Founded Year: 2011
- Location: San Ramon (United States)
- Valuation: $*****
- Stage: Series F
- Total Funding till date: $476M
- Employee Count: 1,491 as on Jun 30, 2026
- Investors: Section Partners, Sapphire Ventures and 43 Others
- Latest Funding Round: Series F, Dec 22, 2022, $*****
- Highlight: Editors' Pick
5. Telegram
Developer of a cloud-based mobile and desktop messaging application. The application focuses on providing users with secure and fast communication. It offers features such as encrypted messaging, self-destructing messages, and cross-device synchronization. The application supports large group chats and allows users to customize their messaging experience. It also provides an open API and source code.
Key facts about Telegram
- Founded Year: 2013
- Location: Dubai (United Arab Emirates)
- Stage: Series D
- Total Funding till date: $150M
- Employee Count: 3,390 as on Jun 30, 2026
- Investors: SIB Investment Group, Mubadala and 28 Others
- Latest Funding Round: Conventional Debt, Mar 18, 2024, $*****
- Highlight: Editors' Pick
DHVC's Year-on-Year Investment Trends
DHVC has invested in 142 companies over the last 13 years, with an average of 7 new investments annually in the last 10 years. Its most recent first time investment was in Ink Finance and most recent follow-on round was in MachineFi.Year | No. of Investments | ||
|---|---|---|---|
1st Round | Follow-on | Total | |
2026 (YTD) | 0 | 0 | 0 |
2025 | 0 | 0 | 0 |
2024 | 2 | 0 | 2 |
2023 | 2 | 0 | 2 |
2022 | 5 | 1 | 6 |
2021 | 4 | 3 | 7 |
2020 | 0 | 0 | 0 |
2019 | 2 | 2 | 4 |
2018 | 30 | 4 | 34 |
2017 | 22 | 1 | 23 |
DHVC's Investments by Stage
DHVC has made 33 investments in Series A stage with an average round size of $16.1M, 30 investments in Seed stage with an average round size of $4.71M, 12 investments in Series B stage with an average round size of $19.8M, 4 investments in Series C stage with an average round size of $55.2M and 1 investment in Series D stage with an average round size of $50M.Stage of entry | No. of Investments |
|---|---|
Series A | 33 |
Seed | 30 |
Series B | 12 |
Series C | 4 |
Series D | 1 |
Note: We have considered here, only first round of investments
DHVC's Investments by Sector
DHVC has a diverse portfolio, with companies operating in the Enterprise Applications, High Tech, FinTech, Blockchain Technology and Blockchain - Industry Applications. Notably, it has invested in 134 Tech companies, 104 Enterprise (B2B) companies, 86 Software companies and at least 58 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Enterprise Applications | 34 |
High Tech | 32 |
FinTech | 27 |
Blockchain Technology | 26 |
Blockchain - Industry Applications | 21 |
Others | 78 |
Note: We have considered here, only first round of investments
DHVC's Investments by Geography
DHVC has made most investments in United States (51), followed by China where it has made 13 investments.Country | No. of Investments |
|---|---|
United States | 51 |
China | 13 |
Singapore | 6 |
Canada | 3 |
India | 1 |
Others | 4 |
Note: We have considered here, only first round of investments
DHVC's recent investments
DHVC has not made any investment in 2026 so far.Here are the most recent investments by DHVC:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Jun 11, 2024 | United States | Series A | 5289 | [+7] | |
Jan 16, 2024 | Singapore | Seed | 2484 | [+9] | |
Jun 01, 2023 | Singapore | Seed | 7661 | [+11] | |
Feb 26, 2023 | China | Series A | 6704 | [+5] | |
Nov 09, 2022 | United States | Seed | 6193 | [+4] |
Unicorns in DHVC's Portfolio
DHVC has 11 unicorns in its portfolio - Stori, Viz.ai, CertiK and others. The most recent unicorn in their portfolio is Stori. It became a unicorn in 2022, 4 years before DHVC first invested in it.Here is a list of unicorns in DHVC's portfolio:
Tracxn Score | Company | Short Description | Founded year | Sector | Location | Company Stage | First Investment/ Acquisition Details |
|---|---|---|---|---|---|---|---|
75 | Provider of credit cards and deposit accounts without credit history | 2018 | Miguel Hidalgo | Series C | rfplurg | ||
64 | Developer of an AI-powered platform for care coordination and disease detection | 2016 | San Francisco | Series D | ewnintj | ||
75 | Provider of comprehensive blockchain security solutions, including smart contract audits, due diligence, and cyber threat monitoring | 2017 | New York City | Series B | cuojuii | ||
71 | Food technology company digitizing the food supply chain through B2B eCommerce | 2014 | San Francisco | Series H | brkgaqv | ||
65 | Provider of molecular diagnostics platform by using CRISPR technology | 2017 | Brisbane | Series D | aivwumj |
IPOs and Publicly Listed companies in DHVC's Portfolio
5 of DHVC's portfolio companies have become public. Lime got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ), in Jul 2026 at marketcap of $1.6B and Figure got listed on the National Association of Securities Dealers Automated Quotations (NASDAQ) at marketcap of $4.34B.Here are DHVC's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jul 01, 2026 | - | - | 5918 | |
Sep 11, 2025 | - | - | 6399 | |
Oct 11, 2024 | - | - | 2957 | |
Jan 25, 2024 | - | - | 9212 | |
Feb 06, 2020 | - | - | 6261 |
Acquired companies in DHVC's Portfolio
27 companies from DHVC's portfolio have been acquired. The most recent acquisition was Messari in Jun 2026 by Blockworks for $*****.Here are DHVC's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Jun 12, 2026 | Mar 07, 2018 | Seed | 3071 | |
Dec 10, 2024 | Jan 02, 2018 | Series B | 5164 | |
Feb 10, 2024 | - | - | 9665 | |
Jan 04, 2023 | Dec 23, 2015 | Series B | 8476 | |
Jun 21, 2022 | - | - | 5017 |
Team profile of DHVC
DHVC has a team of 8 members including 5 Partners and 1 Principal located in United States and China. DHVC's team does not sit on the board of any company as of now.Here is a list of all team members in DHVC:
Name | Designation | Location | Board Memberships | Contact Details |
|---|---|---|---|---|
Partner | San Francisco | - | ||
Partner | Stanford | - | ||
Partner | Palo Alto | - | ||
Partner | Palo Alto | - | ||
Partner | Chaoyang | - | - | |
Principal | Palo Alto | - | - |
Co-investors of DHVC
Over the past 13 years, 721 investors have co-invested in DHVC's portfolio companies. This includes funds and angels.
- Invested before DHVC: Y Combinator, Sierra Ventures and 139 others have invested in rounds before DHVC. There are 5 companies where Y Combinator has invested before DHVC and 3 companies where Sierra Ventures has invested before DHVC.
- Top Co-investors of DHVC: 327 investors entered a company along with DHVC. These include investors like NGC Ventures (5 companies).
- Invested after DHVC: A total of 253 investors have invested in DHVC's portfolio after their investments. Top Investors include Tiger Global Management (5 companies), Samsung NEXT (3 companies) and SoftBank Vision Fund (2 companies).
Recent News related to DHVC
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Ink Finance Completes New Round of Financing of Over US$5 Million, with P2 Ventures and Others ParticipatingCoinTime•Jun 11, 2024•Ink Finance, Republic, Alliance Venture, Blizzard and 6 others
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XSCOPE completes $ 50,000 Pre-Series A round, led by Hashkey Capital ...TradingView•Jan 16, 2024•xScope, HashKey Capital, Redpoint China Ventures, OKX and 10 others
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HogwartsLabs Secures $8M in Funding to Drive Innovation and GrowthACCESSWIRE•Jun 01, 2023•HogwartsLabs, DHVC, Puzzle Ventures, Beituo Capital and 8 others
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7-Eleven parent to sell Sogo & Seibu for $1.38bn to U.S. fundNihon Keizai Shimbun•Nov 09, 2022•DHVC, BlockTower, Seven & i Holdings, Goat Capital and 4 others
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Ping Raises $15M Seed Round to Expand Payment Platform For Freelancers and the Gig EconomyBusiness Wire•Nov 09, 2022•Ping, Y Combinator, Race Capital, BlockTower and 7 others
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MachineFi Lab announces Series A funding to raise $50 millionIndiatimes•Jun 20, 2022•MachineFi, HashKey, IOSG Ventures, Jump Crypto and 8 others
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InfStones $33M Series B to Expand Node Support to 100+ ProtocolsCrowdfund Insider•Feb 25, 2022•InfStones, SIG, Dragonfly Capital, Qiming Venture Partners and 7 others
