Notable VC firm Technology Crossover Ventures

 

Notable VC firm Technology Crossover Ventures, popularly referred to as TCV, has raised between 50% to 75% lower than the targeted sum of $5.5B for its next flagship fund, per securities filings and documents seen by The Information.  It is unclear if the firm has closed its fundraising. Nevertheless, the news suggests that even notable venture firms are having difficulty raising new funds.  The filings show that TCV raised $1.4B for its next flagship fund, with another $1.35B across four new funds.  Assuming the latter funds are linked to the flagship fund, the firm has collectively secured $2.75B toward its next fund, 50% less than its original target.  TCV's previous flagship funds closed at $4B in 2021 and $3B in 2019.  Due to the macroeconomic headwinds and lack of market liquidity, VC firms are having difficulty raising fresh funds.  TCV's peer Tiger Global Management lowered its fundraising target twice, dropping it from the initial target of $12B to $5B.