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**Table of content

Intro & TL;DR DVC AI Fund I State of VC Meet New LPs Fund Stats & Portfolio Product Updates Events and Announcements DVC Publications Kudos

Intro & TL;DR

Welcome to our Q1 2025 Limited Partners Update. We're excited to share our fund's progress, new investments, and the continued growth of our venture ecosystem in this quarterly report. For a quick overview, please see our detailed highlight deck.

DVC demonstrated strong momentum in Q1 2025, achieving huge milestones across investments, community engagement, and platform development. Our assets under management reached $39.6M, with $18.7M in deployed capital. We invested in 145 deals - 115 initial investments and 29(+1) follow-ons. The DVC community now comprises 403 members—158 investors and 245 founders.

Q1 2025 Key Highlights

• Portfolio Growth: Deployed $1,850,000 across 7 deals, including 5 new investments and 2 follow-ons.
• Total fund size in this quarter reached $1,990,000, with an additional $2,078,592 in rollover capital
• Community Engagement: Hosted 9 events (7 online, 2 in-person)

Portfolio Health

• Portfolio Composition: 145 total deals, including 115 initial investments and 29(+1) follow-ons.
• Average runway: 22.8 months
• 81.8% of portfolio companies have a runway >12 months
• 28% of portfolio companies have at least one female founder
• Current exits: 5 (+1 in progress) - WLNC (acquired by Toptal), Classtag (Acquired by PLG Schoolstatus), Respell (acquired by Salesforce), Birthdayapp (still in progress), APINexus (acquired by Perplexity), Spellwise (acquired by Perplexity).
• Write-offs: 7 - Fridge No More, Solai Labs, Voices, Peer Town, Castingform, Keji, Meander
• Markups: 6 second-based, 23 convertible