Most of the investments they are making are in enterprise big data companies.
"We see a lot more big data plays that are sold into big corporations," Bogue noted. "That said, if we do see an interesting application that sits on top of a really interesting data set with interesting analytics that does apply to consumers, we'll make an investment there."
But before it invests, Data Collective takes a "religious" approach to the technology. "If the technology is not there, it's not an investment for Data Collective," he said.
Although many of Data Collective's investments are in enterprise-focused companies, Ocko highlighted areas where big data is driving some fascinating intersections of enterprise and consumer applications. (Read More: What Disruptors Need to Attract Capital.)
One of its investments is able to take the random DNA snippets generated by DNA sequencing machines and turn it into "a very ordered, extremely accurate map" of someone's genome, Ocko said. "The data is so accurate, before parents have children they can understand exactly how their child might turn out," he said.
Ocko said that data can be used to improve the health of millions of people around the world.
—By CNBC.com's Justin Menza