DCVC announced it has closed over $700 million in new funds for a healthier planet and lives. The firm has committed to achieving venture-scale returns from companies whose success would bring humanity greater resilience, abundance, and equitability for investors.
DCVC is focused on companies using a computational advantage to positively transform vital industries that often haven’t seen change in decades. DCVC investments lead to important physical outcomes: better energy production, better medicines, better agriculture, better industrial efficiency, and better national security.
Some of the companies in DCVC’s portfolio include Agility Robotics, BioPhero, Blue River Technology, Elastic, Insight M, Pivot Bio, SentinelOne, ZwitterCo.
The firm has also announced that it has raised over $700 million in funding across these two new funds, bringing the total funding closed over the last two and a half years to over $1.6 billion.
At DCVC, the firm has also been successfully investing in solutions to reduce climate-related risk and improve climate resilience for over a dozen years. And the fund focuses on commercializing emerging climate tech solutions to catalyze meaningful improvements to established value chains, decarbonize high-emitting industries, hasten the energy transition, and contribute to mitigation and adaptation efforts.
The firm’s initial investment match has seen early traction. For example, Fervo Energy, a global leader in advanced geothermal energy, announced in June its biggest contract to date (two PPAs totaling 320MW with one of the nation’s largest utilities), then in September reported record-breaking production results and a $100 million construction loan toward its Cape Station project in Utah. And Twelve, a leading producer of sustainable aviation fuel (SAF) from waste CO2, recently signed a historic SAF offtake agreement with giant airline group IAG (British Airways, Aer Lingus, etc.) and only a few days ago revealed a massive TPG-co-led $645 million in fresh financing (in which DCVC participated), comprising equity and project finance.
In 2018, DCVC Bio was co-founded by DCVC founders Matt Ocko and Zachary Bogue, along with Dr. John Hamer and Dr. Kiersten Stead. And it takes advantage of the fact that AI and large data models can now untangle networks of genes and proteins of complexity and enables biologists new ways to design medicines, materials, and farming methods.
