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Venture Capital

DBL

DBL backs early-stage and high-growth companies, typically pre-profit, from Palo Alto, United States. It states a focus on software & internet, energy & utilities, environmental & safety and agriculture.

Disclosed holdings60
Earliest stated investment
HeadquartersPalo Alto, United States
Largest single fundNot stated

Regulatory record

How DBL is registered

From this firm's Form ADV, the annual filing every registered and exempt investment adviser makes to the SEC.

Adviser statusExempt reporting adviser
Regulatory assets under managementNot reported by an ERA
Private funds advised8 · $9.2bn gross
SEC adviser numberCRD 174991

An exempt reporting adviser is not required to report regulatory assets under management, so the blank above means the question was not asked rather than that the answer is unknown. Where a figure exists it is the gross asset value of the private funds the firm advises, which is a different and usually larger measure.

Portfolio

Disclosed holdings

Companies DBL lists on its own website. No investment years are published.

CompanyInvestedYears heldRecorded transaction
Agtonomy
Agtonomy-bg
Airspace
Chestnut Carbon
Climate 50
Fiber Global
IIGCC
Impact Capital Managers
ImpactAssets
Intentional Endowments
Menlo Micro
Smack Happy Design
SpaceX
Terram Lab
The GIIN
XDx-bg
airspace-bg-opt
andela-bg
apeel-sciences-bg
bellwether-coffee-bg
brightsource-bg
burnbot-bg
chestnut-bg
e-loan-bg
e-meter-bg
farmers-business-network-bg
fiber-global-bg
five-prime-bg
impinvalliance.org
kateeva-bg
labcyte-bg
mapbox-bg
mast-bg
menlomicro-bg
nextracker-bg
opxbio-bg
pallet-bg
pandora-bg
peninsula-pharma-bg
planet-bg
powerlight-bg
primus-power-bg
rain-photo-opt2
rallypoint-bg
revolution-foods-bg
rzero-bg
solarcity-bg
spatial-bg
terram-lab-bg
tesla-bg
the-boring-co-bg
the-muse-bg
the-real-real-bg
trove-bg
urbansitter-bg
view-bg
wynd-bg
xAI-bg
zincfive-bg
zola-electric-bg

Compiled from DBL’s published portfolio page. Where a recorded transaction is shown, that company was the target of a reported deal and has most likely already been realised. Nothing here is represented as being for sale.

Valuation context

Transaction values in Software & Internet

What companies have actually sold for in software & internet, across 2,672 recorded transactions.

Median consideration$80m
Middle 50%$20m-$250m
Revenue multiple2.2×
EBITDA multiple10.9×

The full software & internet picture - most active acquirers, recent transactions and every investor in the sector.

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Comparable investors

Similar mandates

Other venture capital investors active in software & internet.