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TCV (investment firm)
American investment firm From Wikipedia, the free encyclopedia
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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]
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Background
TCV was founded in 1995 by Richard H. Kimball and Jay Hoag.[2][3][4][5]
In 2021, the firm founded TCV Acquisition, a Special-purpose acquisition company (SPAC) with no commercial operations. 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]
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Funds
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References
External links
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