DCM promotes Ray Zhao to partner

Zhao has been with the firm since 2014, having joined as a principal from the investment arm of Tencent Holdings. Before that, he worked at Ventech Capital and China Renaissance. He is primarily focused on business-to-business software and online marketplace investments.

Zhao sourced and was deeply involved in DCM's early investment in truck logistics platform Huochebang, which merged with rival group Yunmanman in 2017 to form Full Truck Alliance Group, or Manbang. Earlier this year, SoftBank Vision Fund led a $1.9 billion round for the company at a valuation of $6 billion.

Zhao is also responsible for investments in the likes of electronic signature platform BestSign, ticketing site TKing, oil products trading platform 51Zhaoyou, and B2B pharmaceuticals retailer Yaoshibang.

"In China, Ray has had a unique ability to find companies that are at an inflection point in industries that are not obvious to our peers," Hurst Lin, general partner and co-founder of DCM China, said in a statement. "His out-of-the-box thinking continues to help improve and deliver the great performance we enjoy in China."

With US-based Kyle Lui also elevated to partner, DCM now has seven partners across its three geographic locations. The firm has $4 billion under management and claims to have backed 25 companies that have gone on to achieve valuations in excess of $1 billion.

DCM closed its most recent global fund at $500 million in July 2016. A US regulatory filing indicates that $750 million is being targeted for the successor vehicle.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Greater China
• GPs
• People
• Technology
• China
• Venture
• Appointments
• DCM-Doll Capital Management