DCM Veteran David Cheng Transitions to Costanoa
David Cheng, a veteran of DCM, has joined Costanoa, as detailed in an article published on 14 April 2026, according to Venture Capital Journal. Cheng was re-evaluating his role as an investor in light of the impact of AI on the venture capital industry and appreciated Costanoa’s commitment to a smaller portfolio of startups.
Background on Cheng’s Career
Cheng’s experience at DCM positioned him as a notable figure in venture capital, and his decision to move reflects a shift in his approach to supporting founders. According to Venture Capital Journal, this change comes amid broader discussions about AI’s influence on investment strategies in the sector.
Reasons for the Move to Costanoa
The impact of AI on the VC industry prompted Cheng to reassess how he could be most useful to founders, leading him to favor Costanoa’s model. Costanoa’s level of dedication to a smaller portfolio of startups aligned with Cheng’s priorities, as reported in the same source.
Costanoa’s Investment Approach
Costanoa emphasizes a focused dedication to its portfolio, which appealed to Cheng in the context of AI-driven changes in venture capital. As a widely-known trend, AI is reshaping how investors engage with startups, though specifics on Cheng’s role remain tied to the original reporting.
