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DCVC
DCVC, founded by Matt Ocko and Zachary Bogue, deploys a multi-billion deep tech portfolio backing Planet Labs and Recursion Pharmaceuticals.
DCVC
DCVC was founded in 2010 by Matt Ocko and Zachary Bogue with a contrarian belief: the next generational companies would emerge not from mobile apps but from computational approaches to hard physical-world problems. The firm established its headquarters in Palo Alto, embedding itself in the engineering talent corridor that feeds its portfolio needs. Unlike generalist Silicon Valley funds that added deep tech as a vertical, DCVC was purpose-built around the intersection of AI, data and industrial-scale science. The firm structures its strategy around a multi-stage approach, making both early-stage venture bets and larger growth investments in companies that apply computational models to climate, space, robotics, life sciences and enterprise infrastructure. Confirmed positions include Planet Labs (satellite earth imaging), Recursion Pharmaceuticals (AI-driven drug discovery), and Pivot Bio (microbial nitrogen fixation for agriculture) (public record). The firm's geographic deployment concentrates on North America, though it selectively backs companies with global ambitions in areas like synthetic biology, where European talent clusters in London and Zurich are on the radar. DCVC manages more than $5 billion across its fund family (Altss estimate), raised through a series of named vehicles including DCVC I through the most recent DCVC Select fund, and operates offices in San Francisco and New York in addition to Palo Alto. In 2024, the firm closed new capital commitments to continue its concentration in computationally intensive startups (per Bloomberg, 2024). The partnership is supported by a mix of operators-turned-investors, reflecting Ocko's own background as a serial entrepreneur and Bogue's technology law and operating experience. Unlike funds that separate hardware and software teams, DCVC's structural differentiator is its insistence that a portfolio company's algorithm is inseparable from the physical infrastructure it controls — satellite constellations, robotic fleets, biological wet labs — a posture that requires both long holding periods and deep operational intervention rarely found in a venture fund's operating manual.
General information
Firm type
Asset Manager
Year founded
2010
AUM
$5B - $10B (Altss estimate)
Location
Region
North America
Country
United States
City
Palo Alto
Corporate office
Palo Alto, CA, United States
Additional offices
San Francisco, CA · New York, NY
Principals
Matt Ocko
Co-Founder & Co-Managing Partner
Zachary Bogue
Co-Founder & Co-Managing Partner
Sector focus
Frequently asked questions
Who runs investment decisions at DCVC?
Co-Founders Matt Ocko and Zachary Bogue serve as Co-Managing Partners and lead the investment committee. Ocko brings a track record as a serial entrepreneur and angel investor in companies like Facebook and Zynga before their IPOs, while Bogue contributes expertise in technology law and operating roles. Investment decisions are made through a centralized partnership structure rather than a distributed team-of-teams model.
How does DCVC source proprietary deal flow?
DCVC's proprietary deal flow originates from its operating partner network of former technical founders and domain experts, its thesis-driven research pipeline that identifies scientific breakthroughs before they are widely visible to generalist VCs, and co-investor relationships with other deep tech specialists and university commercialization offices (public record).
Does DCVC participate in fund commitments or only direct deals?
DCVC invests almost exclusively in direct company equity, including seed, Series A, and later-stage growth rounds for computationally intensive startups. The firm has not historically been active as a fund-of-funds LP in other venture firms.
What investment stages does DCVC typically target?
DCVC operates across stages, from pre-seed to growth equity, with dedicated early-stage flagship funds and a Select fund series for concentrated later-stage bets on breakout portfolio companies. The firm will lead, co-lead, or participate in syndicated rounds depending on the company's stage and capital needs.
Which sectors does DCVC explicitly avoid?
DCVC does not invest in pure consumer internet or enterprise SaaS lacking a computational moat in complex physical-domain data. The firm explicitly avoids advertising-tech, crypto, and most traditional fintech unless the company's core approach requires substantive AI or hardware innovation.
How is DCVC structured differently from a traditional generalist venture firm?
DCVC is organized around deep tech as a horizontal competency, not a vertical allocation. The firm's partnership blends full-time investors with operating partners who have built companies involving hardware, biology, or orbital infrastructure, allowing technical due diligence that generalist firms typically outsource.
What is DCVC's known posture on co-investments alongside external GPs?
DCVC actively co-invests alongside other deep tech-focused firms and occasionally non-traditional capital sources like sovereign wealth funds or corporate venture arms for capital-intensive later rounds. The firm typically seeks at least a board seat or observer rights in direct investments (public record).
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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