The firm

TCV (Technology Crossover Ventures), founded in 1995 by Richard H. Kimball and Jay Hoag, is a Menlo Park-based growth equity firm that backs category-defining technology companies. The firm manages $25 billion in assets, has invested $22 billion in 350+ technology companies, and supported over 150 IPOs and strategic acquisitions. True to the "crossover" in its name, TCV invests in both private and public growth-stage technology companies, with offices in Menlo Park, New York and London. In 2024 it raised TCV XII, a $3 billion growth fund.

Thesis and sweet spot

TCV partners with high-quality management teams "across their growth journey," writing cheques that typically range from $3 million to $300 million. Its sweet spot is growth-stage technology — SaaS, consumer internet, fintech, infrastructure and health IT — and its unusual crossover mandate lets it keep backing winners after they go public (it held and added to stakes in Netflix and Zillow long after their IPOs). That long-hold mindset is part of the firm's identity: deep industry expertise plus patient capital.

Notable portfolio

TCV's portfolio is a hall of fame: Airbnb, ByteDance, Facebook, Spotify, Netflix, Zillow, LinkedIn, GoFundMe, Expedia, Peloton, Nubank, Revolut, Clio and Mercury. Its current spotlight names include ByteDance, Clio, Cloudsmith, Mercury and Nubank, and its team continues to back AI-era companies such as Fireworks AI and Actively AI.

People

The firm remains led by its founding general partners Jay Hoag and Rick Kimball, alongside a partnership bench with deep operating and product experience across software and consumer internet. Its team has guided CEOs through more than 150 public offerings and acquisitions over three decades.

Programs, credits and how to engage

TCV does not run an accelerator or startup-credit programme — it invests growth-stage equity from Series B onwards. Founders engage via warm introductions, the firm's partners and associates, or through its portfolio network, which also operates a jobs board for TCV-backed companies.

Why it matters for founders

If you are building a breakout technology company at Series B or beyond, TCV is one of the most founder-friendly growth funds on the planet — a firm that has backed Airbnb, Netflix and ByteDance and, crucially, stays invested through the IPO and beyond. It is the growth partner for founders who think in decades, not rounds.