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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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The filing states that 43 limited partners backed the new fund, which is significantly larger than its first. According to and from August 2017, Base Growth I topped out at a comparatively small $75 million, which it has presumably deployed.

Crunchbase data lists only a handful of deals for Base Partners, including participation in rounds raised by India-based esports venture , cloud security company , and a raised by software containerization giant . This being said, the lists several other portfolio companies, including the likes of U.S. payments giant , video-conferencing service (which recently went public), and Chinese social media giant , among others.

The firm has two general partners, according to the filing. is the firm’s managing general partner. Before diving into venture capital, he worked on the public equities side at firms like Skopos and Núcleo Capital. Arthur Mizne is the firm’s co-founding general partner and is also a finance industry veteran. He was previously a portfolio manager at Synthesis Asset Management and founder of M Square, an investment firm catering to a “select group of Brazilian families and institutions,” according to . M Square’s site says the firm is a “partner” of Base Partners, but did not explain the context or structure of that relationship.

The new fund comes amid a period of excitement in Brazil’s tech and VC scene. According to recently-compiled LAVCA data reported on by Mary Ann Azevedo for Crunchbase News, Brazilian companies raised $1.97 billion in VC 2018.

According to Crunchbase data, 2019 is on track to at least match VC dollar volume highs set by Brazilian startups. In July, —another company listed on the portfolio page of Base Partners’s website—raised , which valued the payments company at $10 billion, post-money. Other supergiant rounds1 raised by Brazilian startups this year include fitness experience startup Gympass’s , consumer lending company Creditas’s , and the inked by leading local logistics firm Loggi.

To deploy its new fund in the best deals, Base Partners will need to compete with other seekers of outsized returns in Latin America. Just last week, closed $600 million across two new funds. Last year, received $150 million for its eighth flagship venture capital fund. But perhaps the biggest elephant in the room is and its subsidiary investment arm, the . SoftBank and its related entities led the aforementioned rounds raised by , , and . In March, the Japanese telecoms giant announced its intent to invest $5 billion in Latin American tech ventures through a dedicated pool of capital it calls the SoftBank Innovation Fund.

In April, Mary Ann Azevedo explained that the new SoftBank fund dedicated to the region was a sort of inflection point. For that report, LAVCA’s venture capital director, , told Crunchbase News that “Latin America’s moment has arrived.” We’ll have to see how Base Partners—and its deep-pocketed competitors—capitalizes on the zeitgeist.

Photo: iStock

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It feels like a good time to be a venture capitalist. The stock market is riding high, software companies are trading well, public investors are welcoming any number of unprofitable companies into their portfolios, and there’s plenty of money laying around looking for yield. Still.

Thus the news () that Andreessen Horowitz (a16z) has raised several new funds totaling billions of dollars is sufficiently unsurprising that you’ll forget the following figures by lunch. Per :

• A new venture fund, Fund VI, worth $750 million. Fund VI will focus on “early-stage enterprise to consumer and fintech,” per the firm.
• A new late-stage fund dubbed “LSV Fund I” that’s worth $2 billion. Per a16z, this is not a “growth” fund, making bets all along the Series-timescale. Instead, it’s “about late-stage venture.” That’s clear enough.

The two funds, worth $2.75 billion in total, are worth just under 30 percent of all the funds that the venture-capital-ish () company has raised, .

Here’s where the two new funds fit in, looking at known a16z venture rounds:

So, the new growth vehicle is the largest a16z fund to date. It joins the recently announced Mary Meeker vehicle which also tips the scales north of $1 billion. And of course, there may be another Vision Fund brewing. What that means is that a16z now has a powerhouse of capital at its disposal. It just isn’t the only firm that is so-armed.

I am actually surprised that there aren’t more Cold War jokes made about the Unicorn Era venture scene. After all the new Meeker effort, Bond, raised more money than she had ever had to work with at Kleiner. One up’d.

Illustration: .