# DN Capital

> DN Capital is a VC fund in Menlo Park backing Software and SaaS. See 349 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Menlo Park, United States
- Total investments: 349
- Last investment: Jul 2026
- Lead investor: 24%
- Fund size: $300M
- Last fund: Jul 2021
- Last updated: Aug 2026
- LinkedIn: http://www.linkedin.com/company/dn-capital
- X (Twitter): http://twitter.com/dncapital
- Website: http://dncapital.com
- Facebook: http://www.facebook.com/dncapital

DN Capital is an early-stage venture capital firm that invests primarily in Europe and North America. The firm focuses on companies that plan to establish operations on both sides of the Atlantic, and strives to help its companies build international businesses. Founded in 2000, the company has operations in London and Silicon Valley. DN Capital’sprevious funds are top performers and the firm is one of the lead investors in companies such as Endeca (sold to Oracle), Shazam (one of the world’s leading mobile app), Auto1 (world's largest used car marketplace), Purplebricks (IPO London) and Quandoo (sold to Recruit).

## Contacts

5 contacts available for DN Capital. Shizune tracks 13 team members at DN Capital. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/dn-capital?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $786k–$12M |
| Series A | $4M–$25M |
| Series B | $9M–$108M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Software | 43 | 12% |
| SaaS | 22 | 6% |
| E-Commerce | 19 | 5% |
| Information Technology | 19 | 5% |
| Artificial Intelligence | 19 | 5% |

217 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 76 | 22% |
| Series B | 52 | 15% |
| Seed | 45 | 13% |
| Funding Round | 22 | 6% |
| Series C | 19 | 5% |

13 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 39 | 11% |
| Germany | 36 | 10% |
| United Kingdom | 27 | 8% |
| France | 8 | 2% |
| Finland | 5 | 1% |

23 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Casey Swerner | Venture Capital | 0 | https://shizune.co/investors/profile/casey-swerner |
| Cedric Sellin | Venture Partner | 14 | https://shizune.co/investors/profile/cedric-sellin |
| Frank Kelcz | Venture Partner | 1 | https://shizune.co/investors/profile/frank-kelcz |
| Guy Ward Thomas | Partner | 28 | https://shizune.co/investors/profile/guy-ward-thomas |
| Ian Marsh | Partner | 16 | https://shizune.co/investors/profile/ian-marsh |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| sherpa | AI Operating System for External Workforce Management | $2.2M | Pre-Seed | Jul 09, 2026 |  |
| Gaussion | Gaussion is revolutionising batteries by utilising magneto-electrochemistry. | $27.8M | Series A | Jun 29, 2026 |  |
| Airspeed | Airspeed is building powerful, intuitive products that help elite revenue teams sell more effectively | $20M | Series A | Jun 04, 2026 |  |
| dehaze | dehaze provides healthcare services by bringing medical AI models into clinical practice. | $3.7M | Seed | Apr 28, 2026 |  |
| Interloom Technologies | Interloom Technologies redefines process automation for an AI future. | $16.5M | Seed | Mar 19, 2026 |  |
| Paraglide AI | Paraglide AI agents handle your financial inbox, automatically reply to invoice inquiries from clients, pursue past-due invoice payments, and customize collections at scale. | $5M | Seed | Jan 27, 2026 |  |
| Fimple | Simple and composable financial platform with the “Financial Function as a Service” principle. | $10.1M |  | Jan 20, 2026 |  |
| Fimple | Simple and composable financial platform with the “Financial Function as a Service” principle. | $10.1M |  | Jan 20, 2026 |  |
| Ben | Ben is the all-in-one platform for any company to personalise benefits and reward.Our secret? Marrying a modern software (SaaS) platform with per-employee Mastercards and financial infrastructure. That’s how Ben instantly adds employee choice to your existing benefits, unlocks access to hundreds of additional options through Ben Card, all whilesaving you time and money. | $27.5M | Series B | Dec 17, 2025 |  |
| Ben | Ben is the all-in-one platform for any company to personalise benefits and reward.Our secret? Marrying a modern software (SaaS) platform with per-employee Mastercards and financial infrastructure. That’s how Ben instantly adds employee choice to your existing benefits, unlocks access to hundreds of additional options through Ben Card, all whilesaving you time and money. | $27.5M | Series B | Dec 17, 2025 |  |

10 of 349 investments shown.

## Co-investors
- [Left Lane Capital](https://shizune.co/investors/profile/left-lane-capital) — VC Fund, 33 deals together
- [FJ Labs](https://shizune.co/investors/profile/fj-labs) — VC Fund, 27 deals together
- [Atomico](https://shizune.co/investors/profile/atomico) — VC Fund, 19 deals together
- [Cherry Ventures](https://shizune.co/investors/profile/cherry-ventures) — VC Fund, 14 deals together
- [Framework Venture Partners](https://shizune.co/investors/profile/framework-venture-partners) — VC Fund, 13 deals together
- [Picus Capital](https://shizune.co/investors/profile/picus-capital) — VC Fund, 12 deals together

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## FAQ

### What does DN Capital invest in?

DN Capital invests primarily in Software, SaaS and E-Commerce startups, most often at Series A and Series B stage. Most of the 349 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is DN Capital's check size?

DN Capital typically joins rounds of $786k–$12M at Seed, $4M–$25M at Series A and $9M–$108M at Series B. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds DN Capital participates in.

### How do I contact DN Capital?

Public channels for DN Capital include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at DN Capital?

The team at DN Capital includes Casey Swerner (Venture Capital), Cedric Sellin (Venture Partner) and Frank Kelcz (Venture Partner), among 13 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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