Summary
The Dragoneer Investment Group (Dragoneer) is an American investment firm based in San Francisco, California. The firm focuses on technology investments in both public and private markets globally.[2][3]
 | |
| Company type | Private |
|---|---|
| Industry | Investment management |
| Founded | 2012 |
| Founder | Marc Stad |
| Headquarters | Letterman Digital Arts Center, San Francisco, California, U.S. |
| Products | |
| AUM | US$24.9 billion (2022) |
Number of employees | 51 (2022) |
| Website |
|
| Footnotes / references [1] | |
Background edit
Dragoneer is based in San Francisco and was founded in 2012 by Marc Stad.[3][4][5] Stad was an investment professional who had previously worked at the Investment Group of Santa Barbara, TPG Capital and McKinsey & Company.[3][4]
Dragoneer describes itself as growth-oriented investment firm with more than $17 billion in long-duration capital from institutional funds such as endowments, foundations, sovereign wealth funds and family offices.[6]
For public markets, Dragoneer manages long-only strategy funds that invests in technology companies.[6]
For private markets, Dragoneer manages private growth equity funds that provides funding to private technology companies.[6] The firm avoids going through the traditional fundraising method and instead tries other methods such as secondary stock sales or using convertible debt notes.[7]
SPAC deals edit
In August 2020, Dragoneer Growth Opportunities Corp was listed on the New York Stock Exchange (Ticker: DGNR) raising $600 million.[8] DGNR is a SPAC which is a blank-check company.[8] On February 3, 2021, it was announced that Auto-insurance IT provider, CCC Information Services would become a listed company by merging with DGNR in a deal worth $7 billion.[9]
In November 2020, a second SPAC, Dragoneer Growth Opportunities Corp II was listed on the Nasdaq (Ticker: DGNS) raising $240 million.[10] In July 2021, Cvent became a listed company by merging with DGNS in a deal worth $5.3 billion.[11]
In March 2021, a third SPAC, Dragoneer Growth Opportunities Corp III was listed on the Nasdaq (Ticker: DGNU) raising $400 million.[12]
Funds edit
| Fund | Vintage Year |
|---|---|
| Dragoneer Global Fund | 2012 |
| Dragoneer Opportunities Fund | 2014 |
| Dragoneer Opportunities Fund II | 2015 |
| Dragoneer Global Fund II | 2015 |
| Dragoneer Opportunities Fund III | 2017 |
| Dragoneer Opportunities Fund IV | 2019 |
Notable venture capital investments edit
- Airbnb[13]
- Alibaba Group[14]
- AppFolio
- Atlassian
- Chime
- Compass, Inc.[citation needed]
- CRED
- Databricks
- Discord[15]
- Dollar Shave Club
- Domo
- DoorDash[4]
- Etsy
- Flipkart[16]
- Glassdoor
- Gusto
- HackerOne[17]
- Hortonworks
- Instacart
- Klarna[18]
- MercadoLibre
- New Relic
- Nubank
- Procore
- Redfin
- ResearchGate
- Roblox[19]
- Slack[4]
- Snapchat
- Snowflake[4]
- Spotify[4]
- Strava
- Teabox[20]
- Uber[4]
- UiPath
- Wealthfront
- Whatfix[21]
References edit
- ^ "FORM ADV" (PDF). U.S. Securities and Exchange Commission. May 3, 2022. pp. 6–7.
- ^ "Dragoneer Investment Group Investor Profile: Portfolio & Exits | PitchBook". pitchbook.com. Retrieved July 8, 2021.
- ^ a b c "Marc Stad". Stanford Graduate School of Business. Retrieved July 8, 2021.
- ^ a b c d e f g "Charting their own course to giving back". Harvard Alumni. Retrieved February 5, 2023.
- ^ "Marc Stad". Forbes. Retrieved February 5, 2023.
- ^ a b c Tan, Gillian (July 7, 2021). "Dragoneer, Altimeter Look to New Funds as Unicorns Burgeon". www.bloomberg.com. Archived from the original on July 9, 2021. Retrieved July 8, 2021.
- ^ Schleifer, Theodore (December 6, 2017). "Marc Stad, behind the scenes, is winning ownership stakes in Silicon Valley's hottest companies". Vox. Retrieved February 5, 2023.
- ^ a b "Dragoneer Growth Opportunities Corp. Announces Pricing of $600,000,000 Initial Public Offering". www.businesswire.com. August 14, 2020. Retrieved July 8, 2021.
- ^ Scism, Maureen Farrell and Leslie (February 3, 2021). "WSJ News Exclusive | CCC Information Services to Go Public in $6.5 Billion SPAC Merger". Wall Street Journal. ISSN 0099-9660. Retrieved July 8, 2021.
- ^ Capital, Renaissance. "Dragoneer's second SPAC Dragoneer Growth Opportunities II prices upsized $240 million IPO at $10". www.nasdaq.com. Retrieved July 8, 2021.
- ^ Niket, Nishant (July 23, 2021). "Tech firm Cvent to return to public markets via $5.3 bln blank-check deal". Reuters. Retrieved February 5, 2023.
- ^ Capital, Renaissance Capital. "SPAC Dragoneer Growth Opportunities III prices $400 million IPO". www.nasdaq.com. Retrieved July 8, 2021.
- ^ "Airbnb closes $475 million funding round". Fortune. Retrieved July 8, 2021.
- ^ Gaffney, Mark (January 25, 2021). "Best large hedge funds to clone?WhaleRock, SCGE and Dragoneer lead the pack". WhaleWisdom Alpha. Retrieved July 8, 2021.
- ^ Roof, Katie (August 25, 2021). "Dragoneer Expected to Lead Discord Round at $15 Billion Value". Bloomberg.com. Retrieved August 28, 2021.
- ^ "Flipkart Raises $160M From Dragoneer Investment, Morgan Stanley Investment & Others | MediaNama". www.medianama.com. October 9, 2013. Retrieved July 8, 2021.
- ^ "HackerOne Raises $40 Million to Make the Internet Safer for Everyone". www.businesswire.com. February 8, 2017. Retrieved July 8, 2021.
- ^ "Klarna raises $460 million, looks to expand its payments presence in the US". TechCrunch. August 6, 2019. Retrieved July 8, 2021.[permanent dead link]
- ^ Sen, Joshua Franklin, Anirban (January 6, 2021). "Gaming site Roblox valued at $30 bln, plans direct listing". Reuters. Retrieved July 8, 2021.
{{cite news}}: CS1 maint: multiple names: authors list (link) - ^ "Teabox Raises $6M To Grow Its Global Tea-Commerce Business". TechCrunch. March 25, 2015. Retrieved July 8, 2021.[permanent dead link]
- ^ "Whatfix nabs $90M to help workers onboard and get the most out of their IT stacks". TechCrunch. June 8, 2021. Retrieved July 8, 2021.[permanent dead link]
External links edit
- www.dragoneer.com (Company Website)
- www.dragoneergrowth.com (Capital Markets Platform)