TCV has raised a monster fund:

"Technology CrossOver Ventures said it closed the largest technology-focused fund of the year with $1.4 billion in investments.

It's the firm's sixth fund and comes less than two years after TCV raised another substantial fund of $900 million in 2004. In both instances, investor interest exceeded expectations, prompting Palo Alto, Calif.-based TCV to boost the final size of the funds. It bumped up last year's by $100 million and this year's by $300 million.

"We could've raised dramatically more," said Rick Kimball, one of the firm's founding general partners. He said TCV's fund performance, coupled with its strategy of investing in later-stage companies, likely contributed to limited partners' eagerness to pump money in. "

Now what you do with all that money?