Dragoneer Investment Group

Last updated

Dragoneer Investment Group, LLC
Company type Private
Industry Investment management
Founded2012;12 years ago (2012)
FounderMarc Stad
Headquarters Letterman Digital Arts Center, San Francisco, California, U.S.
Products
AUM US$24.9 billion (2022)
Number of employees
51 (2022)
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 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

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References

  1. ↑ "FORM ADV" (PDF). U.S. Securities and Exchange Commission . May 3, 2022. pp. 6–7.
  2. ↑ "Dragoneer Investment Group Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Retrieved July 8, 2021.
  3. 1 2 3 "Marc Stad". Stanford Graduate School of Business. Retrieved July 8, 2021.
  4. 1 2 3 4 5 6 7 "Charting their own course to giving back". Harvard Alumni. Retrieved February 5, 2023.
  5. ↑ "Marc Stad". Forbes. 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. 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 . 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. 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. 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. 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.[ permanent dead link ]
  19. ↑ Sen, Joshua Franklin, Anirban (January 6, 2021). "Gaming site Roblox valued at $30 bln, plans direct listing". Reuters. Retrieved July 8, 2021.{{cite news}}: CS1 maint: multiple names: authors list (link)
  20. ↑ "Teabox Raises $6M To Grow Its Global Tea-Commerce Business". TechCrunch. March 25, 2015. Retrieved July 8, 2021.
  21. ↑ "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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