Dcode Capital Brings on Key Strategic Investor J.P. Morgan Asset Management, to Further Accelerate Investments in Companies Improving the US Government
Dcode Capital, a premier women-led venture capital fund, today announced a strategic investment from J.P. Morgan Asset Management’s Project Spark that will further Dcode Capital’s mission of investing in tech companies that can improve the way the US Government serves and protects Americans. J.P. Morgan’s Project Spark program is designed to use the bank’s capital, brand, and expansive network to close the funding gap for underrepresented managers and strengthen a diverse ecosystem in the alternatives industry.
Dcode Capital invests in growth-stage, commercially successful B2B technology companies. Dcode Capital managing partners Rebecca Gevalt, Meagan Metzger, and Meg Vorland launched the venture fund from their affiliated advisory firm, Dcode, which connects startup tech companies and federal agencies to drive innovation. Dcode has helped more than 150 tech companies expand into the federal market and worked with dozens of federal agencies on innovation initiatives. Dcode Capital invests in companies that Dcode has helped win federal revenue.
The investment from J.P. Morgan comes as part of an already breakout year for Dcode Capital, with the firm having invested in three companies alongside notable VCs including GV, NEA, and Social Capital. Dcode Capital’s expertise and reputation in the difficult – but recession-proof – federal market has meant that companies and their VCs invite them to invest.
“Despite increasing dialogue across the alternative investment industry on the need for more diverse managers, there is clearly still a long way to go, which is why we are committed to making a difference by providing capital to diverse emerging managers through Project Spark,” said Jamie Kramer, Head of J.P. Morgan Asset Management’s Alternatives Solutions Group and the chair of the Project Spark Investment Committee. “The women behind Dcode Capital bring their unique experience and perspective to the intersection of venture capital and the federal government.”
“We really connected with J.P. Morgan’s mission to drive change in the financial industry and support the underdogs. It has a lot of parallels to our work with startup tech companies and the federal government,” said Gevalt.
“There’s a real opportunity for agencies to improve citizen services if they partner with smaller, more innovative tech companies,” said Vorland. “In a similar way, J.P. Morgan supporting smaller, more innovative venture funds like ours is leading by example.”
With the addition of the J.P. Morgan investment, Dcode Capital is now backed by several institutions, family offices, and prominent high net worth individuals. “We’re thrilled to be able to leverage J.P. Morgan’s name, brand, and experience,” said Metzger. “It comes at a great time because companies are looking at the federal market as a refuge in a tough economy. Dcode Capital and J.P. Morgan are both supporting the US innovation base.”
About Project Spark
In 2021, J.P. Morgan announced the launch of Project Spark to provide capital to venture capital funds managed by diverse, emerging alternative managers. Project Spark aims to help these minority-led, women-led and veteran-led managers in three ways: First, by investing the firm’s proprietary capital, as a limited partner, directly in their funds. Second, by allowing the managers to use the J.P. Morgan brand when capital raising as a reference and testimonial. Last, by providing access to our extensive J.P. Morgan network.