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Dragoneer Investment Group

American investment firm From Wikipedia, the free encyclopedia

Dragoneer Investment Group
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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]

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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]

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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]

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Funds

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Notable venture capital investments

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References

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