Tuesday, November 6, 2007

TCV Closes $3 Billion Dollar Fund

Palo Alto-based Technology Crossover Ventures said Tuesday that it has closed on a $3 billion dollar fund, TCV VII. The new venture fund is double TCV's prior fund, TCV VI, which was worth $1.4 billion. According to TCV, the new fund brings the firm's total capital under management to $7.7 billion. TCV said that the new fund will continue to be invested in laster stage technology companies, with a focus on Internet, financial technology, infrastructure and communications, software and services, and health care IT.