It's been a wild year for China's tech companies. But one venture firm is more bullish than ever.
DCM, a 20-year-old firm with operations in Beijing, Tokyo and Silicon Valley, is aiming to raise $400 million for a China-focused fund, which would be 21 percent bigger than its previous fund from early 2014. The filing was registered with the SEC on Friday.
Investing in Chinese start-ups has proven challenging for U.S. venture capitalists, with firms like Kleiner Perkins Caufield & Byers struggling to replicate their domestic success. Yet DCM's wins in China have so far outstripped the firm's performance in the U.S. that it's using the name DCM China Ventures Fund.