David Cheng

Partner

Constanoa
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Applied AI, Fintech, Healthcare tech

FORMER LINE COOK (NYC'S FIRST KOREAN BBQ TACO TRUCK)

FORBES 30 UNDER 30 VENTURE

WHARTON MBA / NYU BA

WILL GO DEEP ON NUTRITIONAL EPIDEMIOLOGY

BAY AREA NATIVE/CHILDHOOD IN BEIJING

YOUNGEST PARTNER IN DCM'S HISTORY

Every founder is a customer and I need to keep earning my seat on their cap table every day. The day I stop being useful is the day I should give that seat back.

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My Philosophy: 
Three ideas govern my approach to this job:

Entrepreneurs are the main characters. VCs support them. Too many forget this. My goal isn't just to partner with the best founders, it's to continually earn my seat on their cap tables by being their most genuinely useful investor. 

Most things are stochastic even though our urge is to think about them as if they're deterministic. Markets, companies, and technology shifts always produce outcomes wildly disproportionate to their inputs. The best founders and investors can execute like crazy towards an eventual vision while holding multiple futures in their head. Working with teams through this journey is an incredibly privileged position to be in. 

I gravitate towards founders who either expand TAM by expanding access or go after markets most have deemed too small or don't exist. This has led me to be the first check in many companies now serving millions and employing thousands.

Experience:
I started my venture investing career at DCM where I joined as an Associate and after ten years became the youngest Partner in the firm’s 30-year history. While there, I was fortunate enough to partner with some amazing companies like EvenUp, Brigit (acq. by UPBD), OpenArt, and Weekend Health (acq. by WW). Most recently, I was a Co-Founder & General Partner of Coreline Ventures, a firm I helped spin out of DCM.

A Little More About Me: 
I live in Noe Valley with my wife and our six-month-old Shikoku — having grown up with a Shiba, I guess you could say I’m a fan of Japanese dogs. Outside of work, I play pickup basketball (the team is running out of cartilage with every passing year), aspire to enter a mixed doubles tennis tournament with my wife, and listen to more long-form history podcasts than is probably reasonable — currently How to Take Over the World, History on Fire, and anytime Dan Carlin drops a new Hardcore History. In another life I would have been a diplomat. If I ever retire from venture, maybe that's still on the table.

CURRENT INVESTMENT INTERESTS

AI applications for the real world, Vertical software with deep TAMs or large surface areas, Fintech (B2C and B2B), Expanding access to healthcare