Technology Crossover Ventures, the VC firm which has backed the likes of LinkedIn, Spotify, facebook, WorldRemit and Zillow has reportedly closed its latest fund, named as TCV IX. The latest fund is worth $2.5 Billion and the VC firm is looking to invest more in the growth-stage startups.
The latest fund comes in accordance with the kind of trend we have been seeing in the market lately. There has been a funding crunch for the initial stage investments, however, the startup ecosystem has seen a great push in the number of startups raising later round of funds, generally known as growth rounds. The amount in such rounds is bigger and that is one of the reasons why TCV has closed over a couple of Billion of US Dollars.
The last fund by the VC firm was pretty much worth the same amount and it had quite a few notable investments. One of the startups which raised funds from the TCV VIII fund was acquired by Unilever for a Billion US dollars last month.