Biggest fund in 2005?
Filed in archive Global Economy on November 22, 2005
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?
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. "
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