|By Business Wire||
|March 19, 2014 10:00 AM EDT||
Technology Crossover Ventures (TCV), a leading provider of growth equity for premier technology companies, announced today the closing of TCV VIII, a $2.23 billion fund. With this fund, the firm’s capital raised since inception totals nearly $10 billion.
TCV VIII will continue to execute on Technology Crossover Venture’s core strategy of providing growth equity capital to market-leading technology companies, with a focus on the Internet, business and financial services, infrastructure, and software markets. The fund will be invested by TCV’s team of more than 40 investment professionals, one of the largest teams focused on growth equity investments in technology.
“We appreciate the continued support of our limited partners, whose strong participation in TCV VIII highlights our long track record in backing some of the world’s leading technology companies and entrepreneurs,” said Jay Hoag, a founding general partner of TCV.
“With this new pool of capital from our limited partners,” said Jake Reynolds, a general partner of TCV, “our team looks forward to expanding on our mission of generating strong investment returns by identifying world-class entrepreneurs and helping them grow their businesses.”
The investors in TCV VIII include public and private pension funds from North America, Europe and Asia, university endowments, financial institutions, family offices, and technology entrepreneurs.
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 18 years. Selected investments include Altiris, C|NET, ExactTarget, Expedia, Facebook, Fandango, FX Alliance, Go Daddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Sitecore, Splunk, Spotify, Thinkorswim, and Zillow. TCV is headquartered in Palo Alto, California with offices in New York and London. For more information about TCV, including a complete list of TCV investments, visit www.tcv.com.
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