DNX Ventures
UnclaimedAt a Glance
- Check Size
- $. – $.
- Stage
- Pre-Seed, Seed, Series A, Series B+
- AUM
- $300M
- Sectors
- Enterprise, SaaS, DevTools +1
- Founded
- 2011
- HQ
- San Mateo, CA
About DNX Ventures
DNX Ventures is a cross-border venture capital firm that has invested in business-to-business startups from offices in Tokyo and Silicon Valley since 2011. Its United States office is at 55 East 3rd Avenue in San Mateo, California, and its Japanese office is in the Shinagawa Intercity complex in Minato-ku, Tokyo; the firm operates as a two-headquarters organization rather than a US fund with a representative office abroad. The platform is split into two investment lines. DNX Technology Ventures backs industry-leading B2B companies in the United States across deep technology, cybersecurity, enterprise software-as-a-service and cloud infrastructure, retail technology and sustainability. DNX Capital invests in B2B startups in Japan and the ASEAN region, with a stated concentration on artificial intelligence software that changes how companies and whole industries operate. In both lines the firm leads early-stage rounds and takes board or external director seats, positioning governance support as part of what it offers management teams alongside capital. The cross-border thesis is its distinguishing feature: US portfolio companies are helped into Japanese enterprise accounts, and Japanese companies are supported in building US go-to-market operations, using a bilingual team and long-standing relationships with Japanese corporate buyers and limited partners. DNX manages roughly $300 million and invests primarily at seed and Series A, reserving capital for follow-on rounds. Because the mandate is enterprise rather than consumer, the portfolio skews toward software sold on multi-year contracts to large organizations, including security, data infrastructure, industrial and retail technology vendors.
Investment Thesis
“Cross-border B2B SaaS investor bridging US and Japanese enterprise technology markets.”
Leadership Team
Michitaka Kitamura and Quaeed Motiwala are the two executive officers named on every DNX vehicle, from DNX Partners III through the 2025 Japan annex fund, making them the firm's cross-border axis. Akira Kurabayashi joins them as a named officer on DNX Partners Annex Japan III, the 2022 Japan-dedicated vehicle, and Hironobu Maeda appears on both DNX Partners IV and the DNX Global Seed Fund in 2023, so the newer vintages spread signing authority wider than the earlier funds did. The firm splits into two arms with distinct mandates. DNX Capital in Tokyo covers Japan and ASEAN B2B companies with a stated concentration in AI software, leads early-stage rounds, and takes external director seats to strengthen portfolio governance. DNX Technology Ventures in Silicon Valley covers deep tech, cybersecurity, enterprise SaaS and cloud, retail technology and sustainability. The US team operates from 55 East 3rd Avenue in San Mateo, the Japan team from Shinagawa Intercity in Minato-ku, Tokyo.
Sector Focus
Investment Stage
Notable Portfolio Companies
Fund History
DNX Ventures was founded in 2011 as Draper Nexus, a name that still appears in the SEC adviser registry alongside Draper Nexus Venture Partners II, LLC, and has filed a dense set of vehicles from San Mateo since. DNX Partners III, LP is the largest disclosed pool, reporting $152,020,202 sold on a first sale of August 21, 2018. DNX Partners IV, LP filed a $200 million offering in August 2023 and had sold $50,010,000 against a first sale of April 13, 2023. The firm runs Japan-specific annex funds in parallel: DNX Partners Annex Japan III, LP reported $26,948,532 of a $116,795,141 offering from a May 2022 first sale, and Annex Japan IV, LP reported $10,628,774 of $20,161,989 in June 2025. A separate DNX Global Seed Fund, LP filed a $20 million offering in February 2023 and had sold $6,313,132. Smaller co-investment entities, DNX III, LLC at $1,824,000 and DNX Annex II, LLC at $240,000, round out the structure. Michitaka Kitamura and Quaeed Motiwala are named on every vehicle.
Frequently Asked Questions
What stage does DNX Ventures invest at?
DNX Ventures primarily invests at the Pre-Seed, Seed, Series A, Series B+ stages. This means they focus on companies that are at the earliest idea or prototype phase.
Where is DNX Ventures located?
DNX Ventures is headquartered in San Mateo, CA. Many of their portfolio companies are also based in this region, though they invest across geographies.
What sectors does DNX Ventures focus on?
DNX Ventures focuses on investments in Enterprise, SaaS, DevTools, Fintech. Their portfolio reflects deep expertise and networks within these sectors.
What is DNX Ventures's typical check size?
DNX Ventures's typical investment check size ranges from $. to $.. Actual amounts may vary based on the stage, sector, and specific opportunity.
How much does DNX Ventures have under management?
DNX Ventures manages approximately $300M in assets under management (AUM) across their funds.
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