TCV (investment firm)
 | |
| TCV | |
| Company type | Private |
| Industry | Investment management |
| Founded | 1995 |
| Founder |
|
| Headquarters | Menlo Park, California, U.S. |
| Products | Private Equity Venture Capital |
| AUM | US$25 billion (2022) |
| Website | www |
| Footnotes / references [1] | |
TCMI, Inc. better known by the name TCV (Technology Crossover Ventures) is an American investment firm based in Menlo Park, California. The firm mainly invests in public and private growth-stage companies in the technology industry.[2]
Background
[edit]TCV was founded in 1995 by Richard H. Kimball and Jay Hoag.[2][3][4][5]
In 2021, the firm founded TCV Acquisition, a Special-purpose acquisition company (SPAC) with no commercial operations. It was formed to raise capital to acquire private companies. On April 14, it was listed on the Nasdaq under the ticker 'TCVA' and raised $350 million.[6] In April 2023, the SPAC was liquidated as no deal could be found within the given timeframe.[7]
The typical size of an investment that TCV makes in companies ranges from $3 million to $300 million. As of 2020, TCV has invested over $13 billion in over 350 companies. Notable private investments include Airbnb,[8] ByteDance,[9] Facebook,[8] GoFundMe[10] and Spotify.[8] The firm also makes public investments in companies it previously backed when they were private such as Netflix, Zillow and LinkedIn.[2][11]
Funds
[edit]| Fund[12] | Vintage Year | Committed Capital ($m) |
|---|---|---|
| Technology Crossover Ventures I | 1995 | USD 100 |
| Technology Crossover Ventures II | 1996 | USD 195 |
| Technology Crossover Ventures III | 1999 | USD 417 |
| Technology Crossover Ventures IV | 2000 | USD 1,700 |
| Technology Crossover Ventures V | 2004 | USD 900 |
| Technology Crossover Ventures VI | 2006 | USD 1,400 |
| Technology Crossover Ventures VII | 2008 | USD 3,000 |
| Technology Crossover Ventures VIII | 2013 | USD 2,230 |
| Technology Crossover Ventures IX | 2016 | USD 2,500 |
| Technology Crossover Ventures Sports | 2018 | USD 55 |
| Technology Crossover Ventures X | 2019 | USD 3,000 |
| Technology Crossover Ventures XI | 2020 | USD 4,000 |
| Technology Crossover Ventures XII | 2024 | USD 3,000 [13] |
References
[edit]- ^ "FORM ADV" (PDF). AdviserInfo.sec.gov.
- ^ a b c "Technology Crossover Ventures: Playing the Private and Public Markets to Optimize Returns". The Software Report. November 14, 2017.
- ^ Shu, Catherine. "VC Firm Becomes Bigger Netflix Player". wsj.com.
- ^ Capital, Renaissance. "Technology Crossover Ventures' SPAC TCV Acquisition files for a $350 million IPO". nasdaq.com. Retrieved May 24, 2021.
- ^ Archives, L. A. Times (April 4, 2000). "New TCV Fund Raises Record $1.6 Billion". Los Angeles Times. Retrieved February 6, 2023.
- ^ "Technology Crossover Ventures' SPAC TCV Acquisition files for a $350 million IPO". Nasdaq. March 19, 2021.
- ^ Schubarth, Cromwell (March 31, 2023). "The Funded: TCV is the latest Silicon Valley VC firm to wind down a SPAC". www.bizjournals.com. Retrieved December 25, 2024.
- ^ a b c "TCV closes record $4B fund to invest in e-commerce, fintech, edtech, travel and more". TechCrunch. January 27, 2021. Retrieved May 24, 2021.
- ^ "The Funded: Silicon Valley backers try to save TikTok in the U.S." bizjournals.com. Retrieved May 24, 2021.
- ^ "GoFundMe Confirms Its Funding Round, Which Valued It At $500M". TechCrunch. June 18, 2015.
- ^ "Top 10 venture capital firms: TCV | Financial Services (FinServ)". Fintech Magazine. June 22, 2020. Retrieved May 24, 2021.
- ^ "Technology Crossover Ventures VII | Palico". palico.com. Retrieved May 24, 2021.
- ^ Hammond, George (May 30, 2024). "Investor TCV raises $3bn to back growth-stage start-ups". Financial Times. Retrieved December 25, 2024.
External links
[edit]- www.tcv.com (Company Website)
