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]
The firm is headquartered in Menlo Park with additional offices in New York and London.[6]
In 2021, the firm founded TCV Acquisition, a Special-purpose acquisition company (SPAC)with no commercial operations.[4] 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.
- ^ a b 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.
- ^ a b Corp, TCV Acquisition. "TCV Acquisition Corp. Announces Pricing of $350,000,000 Initial Public Offering". prnewswire.com (Press release). Retrieved May 24, 2021.
- ^ Corp, TCV Acquisition. "TCV Acquisition Corp. Announces Liquidation". prnewswire.com (Press release). Retrieved July 15, 2023.
- ^ 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.
- ^ https://www.ft.com/content/ae0012cc-e912-4c93-920f-4ad050923edc
External links
[edit]- www.tcv.com (Company Website)
