DCVC Archives - Crunchbase News /tag/dcvc/ Data-driven reporting on private markets, startups, founders, and investors Mon, 02 Mar 2020 16:30:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.5 /wp-content/uploads/cb_news_favicon-150x150.png DCVC Archives - Crunchbase News /tag/dcvc/ 32 32 Quantum Shop Rigetti Computing Has Raised Over $71M In New Funding, Per SEC Filing /startups/quantum-shop-rigetti-computing-has-raised-over-71m-in-new-funding-per-sec-filing/ Mon, 02 Mar 2020 16:22:02 +0000 http://news.crunchbase.com/?p=26040 Full-stack quantum computing company is on the fundraising trail, according to submitted by the company on Friday.

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According to the filing, the company has raised a little over $71 million of a round aiming to raise up to $83.85 million in fresh capital for the company. Rigetti Computing disclosed in its filing that the total amount raised and the total offering amount includes approximately $23.85 million1 from the conversion of convertible securities into equity in the company.

The filing states that, so far, 65 investors contributed capital to the round, and that the company received its first capital commitment for the round on Feb. 18, 2020.

, an investor with , is a new addition to the company’s board. It’s typical for lead investors to take a board seat following a deal, so it’s likely that Bessemer is the lead investor in Rigetti’s latest round.

According to Crunchbase data, the company has in prior funding. Rigetti’s last round was closed in November 2017.

Depending on whether the convertible securities mentioned in today’s filing were previously reported, the company has now raised between $166.7 million and $190.5 million, and it is authorized to raise $12.8 million more in this offering.

The company’s valuation and information about which investors participated in the deal have not been disclosed at this time. Previously disclosed the likes of , , , , and , among others.

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  1. $23,853,386.27 to be precise.

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Deep Tech Investor DCVC Nets $725M For Oversubscribed Fund V /venture/deep-tech-investor-dcvc-nets-725m-for-oversubscribed-fund-v/ Wed, 18 Sep 2019 20:25:17 +0000 http://news.crunchbase.com/?p=20520 Back in April, Crunchbase News spotted a filing by (formerly known as Data Collective) indicating that the Palo Alto-based venture capital firm was raising money for its fifth flagship fund.

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On Wednesday, DCVC co-founding partners and announced , which they say netted the firm $725 million in fresh capital to invest in early-stage “deep” technology companies.

Fund V is markedly larger than the firm’s previous funds. DCVC’s , closed at the end of 2016, topped out at $212 million.

Fund V is also significantly oversubscribed—to the tune of 25 percent—from its initial target. The indicated that DCVC aimed to raise as much as $575 million. Fortune that the new fund’s limited partners include insurance funds, pension funds, charities, and university endowments.

Though Ocko and Bogue are the only general partners listed on for Fund V, submitted to the SEC on Tuesday evening, there have been some promotions and additions to the firm. was promoted from principal to partner. , who previously held executive roles at and , and advisor joined as partners.1 , formerly the director of public relations for , joined DCVC as VP of marketing and communications.

DCVC is now one of the best-capitalized investors in the “deep tech” market, an expansive category which encompasses sectors ranging from industrial automation and cybersecurity, to computational biology, geospatial intelligence, quantum computing, artificial intelligence application-specific integrated circuits (ASICs), and more.

In their statement, Bogue and Ocko say that the firm’s position as an early-stage investor “has consistently given us unique access to scientists and engineers using these computing ‘superpowers’ to attack previously insurmountable problems far beyond IT.”

They highlight a few of their current portfolio companies, including computational discovery company , “molecular construction” and biological materials science company , and , which aims to build “[the] Bloomberg terminal and platform for agricultural data,” according to DCVC.

The firm’s biggest exits to date include (IPO), (IPO), (IPO), and (acquired by Intel), among .

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  1. Disclosure: 8VC is an investor in Crunchbase, the parent company of Crunchbase News. Crunchbase’s investors are listed as part of its . For more about Crunchbase News’s editorial policies on disclosure, see the News team’s About page.

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