Dragoneer Investment Group

Last updated

Dragoneer Investment Group, LLC
Company type Private
Industry Investment management
Founded2012;13 years ago (2012)
FounderMarc Stad
Headquarters Letterman Digital Arts Center, San Francisco, California, U.S.
Products
AUM US$22.6 billion (2024)
Number of employees
83 (2024)
Website
Footnotes /references
[1]

The Dragoneer Investment Group (Dragoneer) is an American investment firm based in San Francisco, California. The firm focuses on technology investments in both public and private markets globally. [2] [3]

Contents

Background

Dragoneer is based in San Francisco and was founded in 2012 by Marc Stad. [3] [4] [5] Stad was an investment professional who had previously worked at the Investment Group of Santa Barbara, TPG Capital and McKinsey & Company. [3] [4]

Dragoneer describes itself as a growth-oriented investment firm with more than $17 billion in long-duration capital from institutional funds such as endowments, foundations, sovereign wealth funds and family offices. [6]

For public markets, Dragoneer manages long-only strategy funds that invests in technology companies. [6]

For private markets, Dragoneer manages private growth equity funds that provides funding to private technology companies. [6] The firm avoids going through the traditional fundraising method and instead tries other methods such as secondary stock sales or using convertible debt notes. [7]

SPAC deals

In August 2020, Dragoneer Growth Opportunities Corp was listed on the New York Stock Exchange (Ticker: DGNR) raising $600 million. [8] DGNR is a SPAC which is a blank-check company. [8] On February 3, 2021, it was announced that Auto-insurance IT provider, CCC Information Services would become a listed company by merging with DGNR in a deal worth $7 billion. [9]

In November 2020, a second SPAC, Dragoneer Growth Opportunities Corp II was listed on the Nasdaq (Ticker: DGNS) raising $240 million. [10] In July 2021, Cvent became a listed company by merging with DGNS in a deal worth $5.3 billion. [11]

In March 2021, a third SPAC, Dragoneer Growth Opportunities Corp III was listed on the Nasdaq (Ticker: DGNU) raising $400 million. [12]

Funds

FundVintage Year
Dragoneer Global Fund2012
Dragoneer Opportunities Fund2014
Dragoneer Opportunities Fund II2015
Dragoneer Global Fund II2015
Dragoneer Opportunities Fund III2017
Dragoneer Opportunities Fund IV2019

Notable venture capital investments

References

  1. ↑ "Form ADV" (PDF). SEC. Archived from the original (PDF) on July 9, 2021.
  2. ↑ "Dragoneer Investment Group Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Archived from the original on July 9, 2021. Retrieved July 8, 2021.
  3. 1 2 3 "Marc Stad". Stanford Graduate School of Business. Archived from the original on July 9, 2021. Retrieved July 8, 2021.
  4. 1 2 3 4 5 6 7 "Charting their own course to giving back". Harvard Alumni. Archived from the original on February 5, 2023. Retrieved February 5, 2023.
  5. ↑ "Marc Stad". Forbes. Archived from the original on February 5, 2023. Retrieved February 5, 2023.
  6. 1 2 3 Tan, Gillian (July 7, 2021). "Dragoneer, Altimeter Look to New Funds as Unicorns Burgeon". www.bloomberg.com. Archived from the original on July 9, 2021. Retrieved July 8, 2021.
  7. ↑ Schleifer, Theodore (December 6, 2017). "Marc Stad, behind the scenes, is winning ownership stakes in Silicon Valley's hottest companies". Vox. Retrieved February 5, 2023.
  8. 1 2 "Dragoneer Growth Opportunities Corp. Announces Pricing of $600,000,000 Initial Public Offering". www.businesswire.com. August 14, 2020. Archived from the original on July 9, 2021. Retrieved July 8, 2021.
  9. ↑ Scism, Maureen Farrell and Leslie (February 3, 2021). "WSJ News Exclusive | CCC Information Services to Go Public in $6.5 Billion SPAC Merger". Wall Street Journal. ISSN   0099-9660. Archived from the original on July 9, 2021. Retrieved July 8, 2021.
  10. ↑ Capital, Renaissance. "Dragoneer's second SPAC Dragoneer Growth Opportunities II prices upsized $240 million IPO at $10". www.nasdaq.com. Retrieved July 8, 2021.
  11. ↑ Niket, Nishant (July 23, 2021). "Tech firm Cvent to return to public markets via $5.3 bln blank-check deal". Reuters. Archived from the original on February 5, 2023. Retrieved February 5, 2023.
  12. ↑ Capital, Renaissance Capital. "SPAC Dragoneer Growth Opportunities III prices $400 million IPO". www.nasdaq.com. Retrieved July 8, 2021.
  13. ↑ "Airbnb closes $475 million funding round". Fortune. Archived from the original on May 14, 2021. Retrieved July 8, 2021.
  14. ↑ Gaffney, Mark (January 25, 2021). "Best large hedge funds to clone?WhaleRock, SCGE and Dragoneer lead the pack". WhaleWisdom Alpha. Retrieved July 8, 2021.
  15. ↑ Roof, Katie (August 25, 2021). "Dragoneer Expected to Lead Discord Round at $15 Billion Value". Bloomberg.com. Retrieved August 28, 2021.
  16. ↑ "Flipkart Raises $160M From Dragoneer Investment, Morgan Stanley Investment & Others | MediaNama". www.medianama.com. October 9, 2013. Retrieved July 8, 2021.
  17. ↑ "HackerOne Raises $40 Million to Make the Internet Safer for Everyone". www.businesswire.com. February 8, 2017. Archived from the original on July 9, 2021. Retrieved July 8, 2021.
  18. ↑ "Klarna raises $460 million, looks to expand its payments presence in the US". TechCrunch. August 6, 2019. Retrieved July 8, 2021.
  19. ↑ Sen, Joshua Franklin, Anirban (January 6, 2021). "Gaming site Roblox valued at $30 bln, plans direct listing". Reuters. Archived from the original on February 5, 2021. Retrieved July 8, 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)
  20. ↑ "Whatfix nabs $90M to help workers onboard and get the most out of their IT stacks". TechCrunch. June 8, 2021. Retrieved July 8, 2021.
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