Venture Capital Firm, Data Collective (DCVC) wants to jump on startups right from the, well, start. The San Francisco-based investors recently raised one of its largest funds to date with $725 million for, DCVC V, its fifth “deep tech” fund.
This new fund will help provide capital to early-stage startups—specifically companies engaged in developing complex and profound technology. Founded in 2011, Data Collective invests in entrepreneurs who focus on deep tech within major industries like security, agriculture, life sciences, geospatial intelligence, computational bio-healthcare, and more.
Data Collective’s investments have backed companies responsible for dealing with everything from natural disasters to terrorism, and more. “Our portfolio companies are transforming unsustainable global manufacturing, relieving an overstressed global food supply, curing seemingly incurable diseases, defeating terrorists and criminals, and providing the tools and systems to massively accelerate human innovation overall,” said the company in a statement. “DCVC V will continue to back early-stage Deep Tech teams as well as doubling down on key later stage opportunities as they emerge from within our portfolio. This fund, roughly twice the size of our prior vintage of funds, is one of the largest raises to date for Deep Tech.”
The firm recently backed Canadian software company, Element AI, which builds artificial intelligence (AI) tools for enterprises, as one of the key investors in a $151 million funding to help Element incorporate more AI into its corporate operations, worldwide.
DCVC’s diverse portfolio includes companies like Planet, a satellite imaging and analytics company founded by ex-NASA employees to clearly capture changes in the Earth; Zymergen, a molecular manufacturing company that uses AI and robotics to tap into microorganisms; and Recursion Pharmaceuticals, which studies human cells through tech to help identify rare diseases and more.
In addition to DCVC’s new massive funding, the company recently had some shifts in personnel as it moved forward in its latest, “deep” initiative. Kate Reed has been named vice president of marketing; Kelly Chen has been promoted to partner; and additional partners Alan Cohen, formerly of Cisco, and Matt Michelsen, previously with 8VC, have also been hired.