TCMI, Inc. better known by the name TCV (Technology Crossover Ventures) is an American

investment firm An investment company is a financial institution principally engaged in holding, managing and investing securities. These companies in the United States are regulated by the U.S. Securities and Exchange Commission and must be registered under th ...

based in

Menlo Park, California Menlo Park ( ) is a city at the eastern edge of San Mateo County, California, San Mateo County in the San Francisco Bay Area of California, United States. It is bordered by San Francisco Bay on the north and east; East Palo Alto, California, Eas ...

. The firm mainly invests in public and private growth-stage companies in the

technology Technology is the application of Conceptual model, conceptual knowledge to achieve practical goals, especially in a reproducible way. The word ''technology'' can also mean the products resulting from such efforts, including both tangible too ...

industry.

Background

TCV was founded in 1995 by Richard H. Kimball and Jay Hoag. In 2021, the firm founded TCV Acquisition, a

Special-purpose acquisition company A special-purpose acquisition company (SPAC; ), also known as a blank check company or a blind-pool stock offering, is a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus taking ...

(SPAC) with no commercial operations. It was formed to raise capital to acquire private companies. On April 14, it was listed on the

Nasdaq The Nasdaq Stock Market (; National Association of Securities Dealers Automated Quotations) is an American stock exchange based in New York City. It is the most active stock trading venue in the U.S. by volume, and ranked second on the list ...

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. 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 Airbnb, Inc. ( , an abbreviation of its original name, "Air Bed and Breakfast") is an American company operating an online marketplace for short-and-long-term homestays, experiences and services in various countries and regions. It acts as a ...

ByteDance ByteDance Ltd. is a Chinese internet technology company headquartered in Haidian, Beijing, and incorporated in the Cayman Islands. Founded by Zhang Yiming, Liang Rubo, and a team of others in 2012, ByteDance developed the video-sharing ap ...

Facebook Facebook is a social media and social networking service owned by the American technology conglomerate Meta Platforms, Meta. Created in 2004 by Mark Zuckerberg with four other Harvard College students and roommates, Eduardo Saverin, Andre ...

GoFundMe GoFundMe is an American for-profit crowdfunding platform that allows people to raise money for events ranging from life events such as celebrations and graduations to challenging circumstances like accidents and illnesses. From 2010 to the ...

and

Spotify Spotify (; ) is a List of companies of Sweden, Swedish Music streaming service, audio streaming and media service provider founded on 23 April 2006 by Daniel Ek and Martin Lorentzon. , it is one of the largest providers of music streaming services ...

. The firm also makes public investments in companies it previously backed when they were private such as

Netflix Netflix is an American subscription video on-demand over-the-top streaming service. The service primarily distributes original and acquired films and television shows from various genres, and it is available internationally in multiple lang ...

Zillow Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 by co-executive chairmen Rich Barton and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spen ...

and

LinkedIn LinkedIn () is an American business and employment-oriented Social networking service, social network. It was launched on May 5, 2003 by Reid Hoffman and Eric Ly. Since December 2016, LinkedIn has been a wholly owned subsidiary of Microsoft. ...

Funds

References

External links

www.tcv.com
(Company Website) {{authority control Financial services companies established in 1995 Financial services companies based in California Companies based in Menlo Park, California Private equity firms of the United States Venture capital firms of the United States