TCV (investment firm) explained

TCMI, Inc.
Trading Name:TCV
Type:Private
Industry:Investment management
Location:Menlo Park, California, U.S.
Products:Private Equity
Venture Capital
Aum:US$25 billion (2022)
Footnotes:[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

TCV was founded in 1995 by Richard H. Kimball and Jay Hoag.[2] [3] [4]

The firm is headquartered in Menlo Park with additional offices in New York and London.[5]

In 2021, the firm founded TCV Acquisition, a Special-purpose acquisition company (SPAC)with no commercial operations.[6] 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. 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, GoFundMe[10] and Spotify. The firm also makes public investments in companies it previously backed when they were private such as Netflix, Zillow and LinkedIn.[2] [11]

Funds

Fund[12] Vintage YearCommitted Capital ($m)
Technology Crossover Ventures I1995USD 100
Technology Crossover Ventures II1996USD 195
Technology Crossover Ventures III1999USD 417
Technology Crossover Ventures IV2000USD 1,700
Technology Crossover Ventures V2004USD 900
Technology Crossover Ventures VI2006USD 1,400
Technology Crossover Ventures VII2008USD 3,000
Technology Crossover Ventures VIII2013USD 2,230
Technology Crossover Ventures IX2016USD 2,500
Technology Crossover Ventures Sports2018USD 55
Technology Crossover Ventures X2019USD 3,000
Technology Crossover Ventures XI2020USD 4,000

External links

Notes and References

  1. Web site: FORM ADV . AdviserInfo.sec.gov.
  2. Web site: Technology Crossover Ventures: Playing the Private and Public Markets to Optimize Returns . The Software Report . November 14, 2017.
  3. Web site: Shu . Catherine . VC Firm Becomes Bigger Netflix Player . wsj.com.
  4. Web site: Archives . L. A. Times . April 4, 2000 . New TCV Fund Raises Record $1.6 Billion . February 6, 2023 . Los Angeles Times . en-US.
  5. Corp. TCV Acquisition. TCV Acquisition Corp. Announces Pricing of $350,000,000 Initial Public Offering. May 24, 2021. prnewswire.com. en.
  6. Web site: Capital. Renaissance. Technology Crossover Ventures' SPAC TCV Acquisition files for a $350 million IPO. May 24, 2021. nasdaq.com. en.
  7. Web site: Corp . TCV Acquisition . TCV Acquisition Corp. Announces Liquidation . July 15, 2023 . prnewswire.com . en.
  8. Web site: January 27, 2021 . TCV closes record $4B fund to invest in e-commerce, fintech, edtech, travel and more . May 24, 2021 . TechCrunch . en-US.
  9. Web site: The Funded: Silicon Valley backers try to save TikTok in the U.S. . May 24, 2021 . bizjournals.com.
  10. Web site: June 18, 2015 . GoFundMe Confirms Its Funding Round, Which Valued It At $500M . TechCrunch.
  11. Web site: Top 10 venture capital firms: TCV Financial Services (FinServ). May 24, 2021. Fintech Magazine. June 22, 2020 . en.
  12. Web site: Technology Crossover Ventures VII Palico. May 24, 2021. palico.com.

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