Dragoneer Raises $4.3 Billion for Seventh VC Fund Despite Sluggish Fundraising Market
Summary
San Francisco-based Dragoneer Investment Group successfully raises $4.3 billion for its seventh venture capital fund in just months, defying a sluggish fundraising market and bringing total assets under management to over $30 billion while maintaining major stakes in OpenAI, Airbnb, and Uber.
Key Points
- Dragoneer raises $4.3 billion for its seventh venture capital fund, closing above target after just a few months in market during an exceptionally slow year for VC fundraising
- The San Francisco-based firm now manages over $30 billion in assets including a $12 billion evergreen fund, and plans to invest in around 15 portfolio companies with its concentrated investment model
- Dragoneer has invested more than $3 billion into OpenAI and maintains a portfolio including major companies like Airbnb, Datadog, DoorDash, Spotify, and Uber