Decheng Capital

Decheng Capital is a prominent venture capital firm headquartered in Menlo Park, California, with a dedicated focus on the life sciences sector. The firm targets both early and growth-stage companies, spanning a broad spectrum of sub-sectors including therapeutics, medical devices, diagnostics, and digital health. Their investment philosophy centers on identifying and supporting innovative companies that are developing groundbreaking technologies and solutions aimed at addressing significant unmet medical needs globally. Decheng Capital leverages its deep industry expertise and extensive network to provide strategic guidance alongside capital.

Since its inception, Decheng Capital has demonstrated a consistent ability to raise substantial capital, reflecting investor confidence in its specialized approach. The firm successfully closed its first fund, Decheng Capital China Life Sciences USD Fund, L.P., in 2010 with $150 million. This was followed by increasingly larger funds, culminating in the close of Decheng Capital Life Sciences USD Fund IV, L.P., in 2022, which secured $550 million in commitments. This progression in fund size underscores Decheng Capital's growing influence and capacity to deploy significant capital into promising life science ventures.

Decheng Capital typically acts as a lead or co-lead investor, providing substantial capital to its portfolio companies. While specific initial check sizes can vary based on the stage and needs of the company, their investments generally range from several million dollars for early-stage rounds to tens of millions for more mature, growth-stage opportunities. For instance, a typical first check might fall within the range of $5 million for a robust Series A or B, extending up to $40 million for a significant lead position in a later-stage growth round. The firm is known for its long-term commitment, often participating in follow-on rounds to support portfolio companies through various development milestones, from clinical trials to commercialization.