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Ray Zhao

DCM Ventures - Partner

Ray Zhao was a Partner at DCM Ventures, a global venture capital firm, where he focused on early-stage investments.1 He joined DCM in 2014 and was promoted to Partner in 2018, specializing in B2B software and marketplace investments in China.1

Prior to DCM, Zhao had over 10 years of investing experience, including roles at:

  • Tencent Investment, where he worked on various early to late-stage investments1
  • Ventech Capital as a venture capital investor1
  • China Renaissance as an investment banker1

At DCM, Zhao was known for his ability to identify companies at inflection points in non-obvious industries.1 He sourced and was deeply involved with DCM's early investment in Houchebang (now ManBang), which later received investment from SoftBank Vision Fund at a $6 billion valuation.1 Other key investments he made include BestSign, TKing, ZhaoYou, and YaoShiBang.1

As of February 2025, Ray Zhao is no longer with DCM Ventures. He is currently serving as Senior MD/Head of Growth Equity at CITIC Capital, a position he has held since 2021.2

Highlights

Jan 1 · dcm.com
Companies - DCM
Nov 19 · businesswire.com
DCM Ventures Announces Spin-Off of Its Pre-Seed / Seed Team
Jul 22 · Digital Journal
Economic marker: VC trends show US economy faltering - Digital Journal
Jul 12 · The Island.lk
TECNO Mobile to launch 5 new devices in Sri Lanka soon - The Island.lk
DCM Ventures | Institution Profile - Private Equity International
Dec 12 · businesswire.com
DCM Appoints Kyle Lui and Ray Zhao as its Newest Partners
DCM Appoints Kyle Lui and Ray Zhao as its Newest Partners
Mar 17 · en.wikipedia.org
DCM Ventures - Wikipedia

Related Questions

What are some of Ray Zhao's most notable investments at DCM Ventures?
How did Ray Zhao's experience at Tencent Investment influence his approach at DCM Ventures?
What industries does Ray Zhao focus on at DCM Ventures?
How has Ray Zhao's career evolved since joining DCM Ventures in 2014?
What are the key differences between Ray Zhao's investment strategy in China and the U.S?
Ray Zhao
Ray Zhao, photo 1
Ray Zhao, photo 2
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Location

Shanghai City, China