 | |
| TCV | |
| 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]
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 $13 billion in over 350 companies. Notable private investments include Airbnb, [8] ByteDance, [9] Facebook, [8] GoFundMe [10] and Spotify. [8] The firm also makes public investments in companies it previously backed when they were private such as Netflix, Zillow and LinkedIn. [2] [11]
| Fund [12] | Vintage Year | Committed Capital ($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 |
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