DCM, formerly known as DCM-Doll Capital Management, now has closed on its $500-million venture fund, DCM V, that brings the firm's capital under management to more than $1.5 billion. The oversubscribed fund, which included the participation of virtually all existing limited partners, will continue DCM's emphasis on investing in early stage, information-technology companies particularly in China and Japan, and US also. 
"DCM's early stage investment strategy and unique access to opportunities in Asia have served our previous venture funds well, and will be the driving forces behind DCM V," said David Chao, co-founder and general partner of DCM. "We believe that the very high level of interest from returning limited partners and the speed with which this fund was closed are a genuine reflection of our achievements, and a sign of confidence that more opportunities lie ahead in the United States and throughout Asia."

For further insights on this fund and the implications for investment in China, see Red Herring's article. As part of my own musings on fellow bloggers covering this space, I encourage you to also read VC Chat.