Investment adviser · CRD 293073

DECHENG CAPITAL LLC

Investment adviser filing (IA)

MENLO PARK, CA, United States · Form ADV filed Mar 31, 2026

Regulatory AUM
$2.73B
Form ADV · Item 5.F
Client accounts
10
Accounts, not individual clients
Employees
23
Reported in this filing
Advisory professionals
13
Investment advisory functions

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client typeClientsRegulatory assetsShare of AUM
Pooled investment vehicles10$2,728,192,342100.0%
Filing source

Form ADV 2071333 · Mar 31, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

8 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

DECHENG CAPITAL GLOBAL LIFE SCIENCES FUND IV, L.P.Venture Capital Fund · Last reported Mar 31, 2026$825MGross asset value

Form D fundraising filings

Decheng Capital Global Life Sciences Fund IV, L.P.

Fund administrator SS&C FUND SERVICES (ASIA) LIMITED HONG KONG, Hong Kong Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS LLP SAN FRANCISCO, California, United States
Custodian J.P. MORGAN SECURITIES LLC SAN FRANCISCO, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

PRICEWATERHOUSECOOPERS LLP
PCAOB 238

J.P. MORGAN SECURITIES LLC
SEC 8-35008

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-1402451188
Reported beneficial owners
42
Minimum commitment
$5M
Form D file number
021-383255

Form ADV 2071333 · Mar 31, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

DECHENG CAPITAL CHINA LIFE SCIENCES USD FUND III, L.P.Venture Capital Fund · Last reported Mar 31, 2026$626MGross asset value

Form D fundraising filings

Decheng Capital China Life Sciences USD Fund III, L.P.

Fund administrator SS&C FUND SERVICES (ASIA) LIMITED HONG KONG, Hong Kong Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY SANTA CLARA, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK CITY, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

PRICEWATERHOUSECOOPERS LLP
PCAOB 238

FIRST-CITIZENS BANK & TRUST COMPANY
LEI L9VVX1KT5TFTKS0MLF66

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-4132529247
Reported beneficial owners
34
Minimum commitment
$5M
Form D file number
021-311280

Form ADV 2071333 · Mar 31, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

DECHENG CAPITAL CHINA LIFE SCIENCES USD FUND II, L.P.Venture Capital Fund · Last reported Mar 31, 2026$481MGross asset value

Form D fundraising filings

Decheng Capital China Life Sciences USD Fund II, L.P.

Fund administrator SS&C FUND SERVICES (ASIA) LIMITED HONG KONG, Hong Kong Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY SANTA CLARA, California, United States Related to adviser: No
Custodian GOLDMAN SACHS & CO. LLC NEW YORK CITY, New York, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK CITY, New York, United States Related to adviser: No
Custodian MORGAN STANLEY SMITH BARNEY LLC PURCHASE, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

PRICEWATERHOUSECOOPERS LLP
PCAOB 238

FIRST-CITIZENS BANK & TRUST COMPANY
LEI L9VVX1KT5TFTKS0MLF66

GOLDMAN SACHS & CO. LLC
SEC 8-129

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

MORGAN STANLEY SMITH BARNEY LLC
SEC 8-68191

Fund details & source
Fund ID
805-2912989556
Reported beneficial owners
38
Minimum commitment
$5M
Form D file number
021-245875

Form ADV 2071333 · Mar 31, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

DECHENG CAPITAL GLOBAL LIFE SCIENCES FUND V, L.P.Venture Capital Fund · Last reported Mar 31, 2026$449MGross asset value
Fund administrator SS&C FUND SERVICES (ASIA) LIMITED HONG KONG, Hong Kong Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY SANTA CLARA, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

PRICEWATERHOUSECOOPERS LLP
PCAOB 238

FIRST-CITIZENS BANK & TRUST COMPANY
LEI L9VVX1KT5TFTKS0MLF66

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-5201193467
Reported beneficial owners
31
Minimum commitment
$5M
Form D file number
021-516125

Form ADV 2071333 · Mar 31, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

DECHENG CAPITAL GLOBAL HEALTHCARE FUND (MASTER), LPHedge Fund · Last reported Mar 31, 2026$228MGross asset value

Feeder funds

Fund administrator SS&C TECHNOLOGIES, INC. SAN FRANCISCO, California, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS LLP SAN FRANCISCO, California, United States
Custodian GOLDMAN SACHS & CO. LLC NEW YORK, New York, United States Related to adviser: No
Custodian J.P. MORGAN SECURITIES LLC SAN FRANCISCO, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK, New York, United States Related to adviser: No
Prime broker COWEN PRIME SERVICES, LLC NEW YORK, New York, United States
Provider details
Annual audit
Yes
Prime brokers
Yes
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

PRICEWATERHOUSECOOPERS LLP
PCAOB 238

GOLDMAN SACHS & CO. LLC
SEC 8-129

J.P. MORGAN SECURITIES LLC
SEC 8-35008

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-3141222928
Reported beneficial owners
17
Minimum commitment
$5M
Form D file number
021-377559
Form D file number
021-377563

Form ADV 2071333 · Mar 31, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

DECHENG CAPITAL CHINA LIFE SCIENCES USD FUND I, L.P.Venture Capital Fund · Last reported Mar 31, 2026$78.9MGross asset value

Form D fundraising filings

Decheng Capital China Life Sciences USD Fund I, L.P.

Fund administrator SS&C FUND SERVICES (ASIA) LIMITED HONG KONG, Hong Kong Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY SANTA CLARA, California, United States Related to adviser: No
Custodian GOLDMAN SACHS & CO. LLC NEW YORK CITY, New York, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK CITY, New York, United States Related to adviser: No
Custodian MORGAN STANLEY SMITH BARNEY LLC PURCHASE, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

PRICEWATERHOUSECOOPERS LLP
PCAOB 238

FIRST-CITIZENS BANK & TRUST COMPANY
LEI L9VVX1KT5TFTKS0MLF66

GOLDMAN SACHS & CO. LLC
SEC 8-129

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

MORGAN STANLEY SMITH BARNEY LLC
SEC 8-68191

Fund details & source
Fund ID
805-4235681694
Reported beneficial owners
21
Minimum commitment
$5M
Form D file number
021-170136

Form ADV 2071333 · Mar 31, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

DECHENG CAPITAL GLOBAL LIFE SCIENCES FUND V-A, L.P.Venture Capital Fund · Last reported Mar 31, 2026$32.9MGross asset value

Form D fundraising filings

Decheng Capital Global Life Sciences Fund V, L.P.

Fund administrator SS&C FUND SERVICES (ASIA) LIMITED HONG KONG, Hong Kong Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor PRICEWATERHOUSECOOPERS LLP SAN FRANCISCO, California, United States
Custodian FIRST-CITIZENS BANK & TRUST COMPANY SANTA CLARA, California, United States Related to adviser: No
Custodian MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED NEW YORK, New York, United States Related to adviser: No
Provider details
Annual audit
Yes
Prime brokers
No
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
No

PRICEWATERHOUSECOOPERS LLP
PCAOB 238

FIRST-CITIZENS BANK & TRUST COMPANY
LEI L9VVX1KT5TFTKS0MLF66

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
SEC 8-7221

Fund details & source
Fund ID
805-9224339589
Reported beneficial owners
2
Minimum commitment
$5M
Form D file number
021-516125

Form ADV 2071333 · Mar 31, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Mar 31, 2026. View historical filings

Reported services

Pooled investment vehicle management

Compensation

Percentage of assets · Performance-based

Principal office

3000 SAND HILL ROAD, BUILDING 2, SUITE 110
MENLO PARK, CA, 94025, United States

CRD 293073

Filing source

Form ADV 2071333 · Mar 31, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.