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Investor profile

TCV

Private Equity · Founded 1995 · Menlo Park, United States

One of the largest growth equity firms focused solely on information technology companies

274 portfolio companies Private Equity · $35B invested · 425 investments · Investor rank #78 · Last investment 8/2026
Portfolio companies 274 ↑ 19% 5y
Decacorns 25 ↑ 33% 5y
Thoroughbreds 91 ↑ 13% 5y
01 · Biggest holdings

TCV’s biggest current holdings.

The most valuable companies TCV still holds — unicorns and thoroughbreds it has backed, ordered by Dealroom’s latest valuation. Companies that have been acquired or gone public are in Exits instead. Where a cap table names TCV directly, the stake and its estimated value are shown too.

#CompanyEst. stakeValuationEst. value
  1. 1 ByteDanceCenticorn · Media · China $550B
  2. 2 RevolutCenticorn · Fintech · UK 3.2% $115B $2.4B
  3. 3 Fireworks AIDecacorn · Enterprise Software · USA $17.5B
  4. 4 MiroDecacorn · Enterprise Software · USA $17.5B
  5. 5 CelonisDecacorn · Enterprise Software · Germany $13.0B
  6. 6 Trade RepublicDecacorn · Fintech · Germany 6.5% $12.5B $812M
  7. 7 ICEYEDecacorn · Space · Finland $11.0B
  8. 8 RazorpayUnicorn · Fintech · India $7.5B
  9. 9 Dream11Unicorn · Gaming · India $7.3B
  10. 10 Relex SolutionsUnicorn · Enterprise Software · Finland 25% $5.5B $1.4B
  11. 11 MambuUnicorn · Fintech · Netherlands 11.5% $5.4B $620M
  12. 12 MercuryUnicorn · Fintech · USA $5.2B

Estimated value = TCV’s disclosed ownership % × Dealroom’s latest company valuation; direct named stakes only, exited positions excluded. Figures are indicative, not reported marks. TCV also appears inside investor groups in Allica Bank, Celonis, Genesys Telecommunication Labs, where a standalone stake isn’t disclosed. See the underlying cap tables on Dealroom →

02 · Exits

TCV’s biggest exits.

Portfolio companies that IPO’d or were acquired at $1B+, with the valuation recorded at exit and — for those still public — their value today. Exit events come from each company’s funding-round history; entry stage from TCV’s transaction record.

$104B IPO · 2012
Now $1.5TMedia
$309M IPO · 2002
Entered Series B+Now $314BMedia
$47B IPO · 2020
Entered Series B+Now $97BTravel
$30B IPO · 2018
Entered SeedNow $90BMusic
$42B IPO · 2021
Entered Series B+Now $70BFintech
$2.6B IPO · 2006
Now $69BTelecom
BASF
IPO · 2002
Entered Series ANow $68BEnergy
Expedia Group
$535M IPO · 1999
Now $35BTravel
$2.0B IPO · 2016
Now $35BMarketing
Expedia Group
IPO · 2005
Now $34BTravel
Interactive Brokers
$1.2B IPO · 2007
Now $32BFintech
$4.3B IPO · 2011
Now $26BMedia
03 · Portfolio analysis

Where TCV’s portfolio is concentrated.

Distribution of portfolio companies by headquarters country, sector, entry stage and current growth stage. Across all 274 portfolio companies. "Stage entered" is the first priced round the investor joined, derived from the investor’s transaction history.

By countryCount
  1. USA283
  2. Mexico21
  3. Germany17
  4. UK16
  5. Canada8
  6. India8
  7. France6
  8. China4
  9. Netherlands4
  10. Australia3
  11. Finland3
  12. Israel3
By sectorCount
  1. Enterprise Software85
  2. Fintech83
  3. Marketing42
  4. Security35
  5. Media33
  6. Health22
  7. Telecom22
  8. Education18
  9. Travel18
  10. Transportation15
  11. Real Estate14
  12. Jobs Recruitment12
By stage enteredCount
  1. Series B+185
  2. Series A38
  3. Seed19
By growth stageCount
  1. Late Growth158
  2. Early Growth107
  3. Breakout Stage105
  4. Mature40
04 · Portfolio market map

Inside TCV’s portfolio.

The 60 highest-funded portfolio companies, of 274 tracked.

Klarna
Fintech · Unicorn
$4.9B
ByteDance
Media · Centicorn
$550B
Airbnb
Travel · Decacorn
$97B
Revolut
Fintech · Centicorn
$115B
Nubank
Fintech · Decacorn
$70B
Meta
Media · Gigacorn
$1.5T
Genesys Telecommunication Labs
Marketing · Decacorn
$21B
Spotify
Music · Decacorn
$90B
Clio
Legal · Unicorn
$5.0B
Fireworks AI
Enterprise Software · Decacorn
$18B
ICEYE
Space · Decacorn
$11B
Celonis
Enterprise Software · Decacorn
$13B
Sitecore
Marketing · Unicorn
$1.1B
Wealthsimple
Fintech · Unicorn
$7.3B
Dream11
Gaming · Unicorn
$7.3B
Expedia Group
Travel · Decacorn
$35B
Brex
Fintech · Unicorn
$5.2B
Groupon
Marketing · Unicorn
$1.1B
OneTrust
Security · Unicorn
$4.5B
Trade Republic
Fintech · Decacorn
$13B
VICE Media
Media · Unicorn
$5.7B
Klook
Travel · Unicorn
$1.0B
Peloton Interactive
Health · Unicorn
$3.0B
WorldRemit
Fintech · Unicorn
$5.0B
Toast
Fintech · Decacorn
$18B
Flix
Travel · Unicorn
$3.3B
Mollie
Fintech · Unicorn
$3.3B
Attentive
Marketing · Unicorn
$1.9B
Relex Solutions
Enterprise Software · Unicorn
$5.5B
Razorpay
Fintech · Unicorn
$7.5B
Qonto
Fintech · Unicorn
$4.8B
Mercury
Fintech · Unicorn
$5.2B
Capsule
Health · Unicorn
$1.0B
Payoneer
Fintech · Unicorn
$2.2B
AIDoc
Health
$600M
Allica Bank
Fintech · Unicorn
$1.2B
Fuze
Enterprise Software
$250M
Devo
Security · Unicorn
$2.0B
Miro
Enterprise Software · Decacorn
$18B
Trulioo
Security · Unicorn
$1.8B
Vrbo
Travel · Unicorn
$3.9B
Pennylane
Fintech · Unicorn
$4.0B
Sigma Networks
Security
GitLab
Security · Unicorn
$5.3B
Employment Hero
Jobs Recruitment · Unicorn
$1.4B
Upwind
Security · Unicorn
$1.5B
Mambu
Fintech · Unicorn
$5.4B
Ankorstore
Fashion
$300M
SeatGeek
Media · Unicorn
$1.0B
Rent the Runway
Fashion
$284M
AppNexus
Media · Unicorn
$1.8B
BASF
Energy · Decacorn
$68B
Corgi
Fintech · Unicorn
$4.0B
Vonage
Telecom · Decacorn
$69B
Motricity
Telecom
$740M
TechStyle Fashion Group
Fashion · Unicorn
$1.0B
First Due
Security
$2.7M
Redis Labs
Enterprise Software · Unicorn
$2.0B
Vectra
Security · Unicorn
$1.2B
HashiCorp
Security · Unicorn
$7.1B
05 · Portfolio founders

Where TCV’s portfolio founders come from.

178 founders across the 100 highest-funded portfolio companies — by current location, university attended, and the companies they worked at before founding. Sourced from the founder records the API links to each portfolio company.

LocationCount
  1. United States90
  2. France11
  3. Germany11
  4. India8
  5. Israel8
  6. Canada7
  7. United Kingdom7
  8. Brazil5
  9. Finland5
  10. Sweden4
UniversityCount
  1. Harvard University8
  2. Stanford University6
  3. Aalto University5
  4. Massachusetts Institute of Technology5
  5. École Polytechnique - IP Paris4
  6. HEC Paris4
  7. Stanford University Graduate School of Business4
  8. Technical University Munich4
  9. University of Michigan4
  10. Duke University3
Previous companyCount
  1. Boston Consulting Group6
  2. Microsoft6
  3. Alphabet | Google5
  4. Goldman Sachs5
  5. Bain & Company4
  6. McKinsey & Company4
  7. Aalto University3
  8. Meta3
  9. Morgan Stanley3
  10. NetApp3