Menlo Park, California-based venture capital firm Doll Capital Management has announced the close of DCM IV on $375 million.
According to a statement, the ‘vast majority’ of the firm’s existing institutional base participated in the oversubscribed fund. ‘A handful of leading endowments and foundations’ also joined DCM in the new vehicle.
With its new fund, DCM will continue to focus on early-stage investments in the communications, software and semiconductor industries. Past portfolio companies of prior funds include Foundry Networks, About.com and Internap.
“Our diversified strategy to invest in under-the-radar technology sectors, as well as an extensive Pacific Rim network have provided consistent returns to our longstanding network of premier investors both in the US and internationally,” DCM co-founder and managing general partner Dixon Doll said in a statement.
The firm launched its previous fund, capitalized at $470 million, in late 2000. The addition of Fund IV brings DCM’s capital under management to $1 billion.