Technology Crossover Ventures adds $1.47bn for TCV VIII


US growth stage investment firm Technology Crossover Ventures (TCV) has raised $1.47bn for its latest fund, according to a filing with the US SEC.

TCV III, which is targeting $2.5bn, follows the $3bn the firm raised for its most recent fund back in June 2007.

In December 2013, AltAssets reported that The Texas County & District Retirement System (TCDRS) had committed $50m to the vehicle, while in November it also confirmed a commitment from the Washington State Investment Board (WSIB).

TCV focuses solely on technology, with $7.7bn raised since inception, usually adopting minority positions.

Most recently the firm, which operates out of offices in Silicon Valley, New York and London, invested $66m in workforce management company TOA Technologies, in one of largest venture-backed funding in the software sector in 2013.

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