Dragoneer Investment Group

Dragoneer is an investment firm that focuses on disruptive businesses and experience at the intersection of public and private markets.

ActiveVenture Capital

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Updated: Feb 17, 2026 ·

Financial History

Total Raised

N/A

Valuation

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Investments Made

Date	Company	Round	Lead Investor(s)	Co-Investor(s)
Feb 12, 2026	Anthropic	$30.0B Series G	Coatue, D. E. Shaw & Co., Dragoneer Investment Group, Founders Fund, GIC, ICONIQ Capital, MGX	Accel, Addition, Alpha Wave Global, Altimeter Capital, AMP PBC, Appaloosa Management, Baillie Gifford, Bessemer Venture Partners, BlackRock, Blackstone Group, D1 Capital Partners, Fidelity, General Catalyst, Goldman Sachs Alternatives, Greenoaks, Insight Partners, Jane Street Capital, JP Morgan Chase, Lightspeed Venture Partners, Menlo Ventures, Microsoft, Morgan Stanley Investment Management, NVIDIA, NX1 Capital, Qatar Investment Authority, Sands Capital Ventures, Sequoia Capital, Temasek Holdings, TowerBrook Capital Partners, TPG, Whale Rock Capital Management, XN
Feb 2, 2026	Waymo	$16.0B Series D	Alphabet, Dragoneer Investment Group, DST Global, Sequoia Capital	Andreessen Horowitz, BDT & MSD Partners, Bessemer Venture Partners, CapitalG, Fidelity, Google Ventures, Kleiner Perkins, Mubadala Capital, Perry Creek Capital, Silver Lake, Temasek Holdings, Tiger Global Management, T. Rowe Price
Oct 1, 2025	Wealthsimple	$390.0M Series E	—	Boon Fund, Greylock, Impression Ventures, Meritech Capital Partners, Ryan Reynolds
Jun 1, 2025	Teamworks	$240.0M Series F	—	Alkeon Capital, AME Cloud Ventures, DVx Ventures, Hanabi Capital, Hardware Club, Storm Ventures, Anshu Sharma
Apr 1, 2025	Deepinvent	$550K Seed	—	Antler, Draper Associates, GSV Acceleration, MRTNZ Ventures
Feb 1, 2024	Fabric	$60.0M Series A	—	125 Ventures, 14W, Alumni Ventures, Arkitekt Ventures, Audrey Capital, BBG Ventures, Bond, BoxGroup, Future Perfect Ventures, General Catalyst, GenNx360, GE Ventures, Great Oaks Venture Capital, Hoxton Ventures, Lux Capital, Oak HC/FT, Sequoia Capital, Supply Change Capital, Target Global, Teamworthy Ventures, Thirty Five Ventures, Thrive Capital, Alain Hanover, Alex Pattis, Anne Wojcicki, Jeremy Yap, Julie McDermott
Feb 1, 2024	Clumio	$75.0M Series D	—	Altimeter Capital, Sangeen Zeb, Modern Venture Partners, Operator Collective, Sutter Hill Ventures, Tiger Global Management, Wasabi Ventures, Catherine Lu
Feb 1, 2024	Blackbird Health	$17.0M Series A	—	Define Ventures, Mubadala, Ayman AlAbdallah
Jan 1, 2024	Quora	$75.0M Venture Round	—	01 Advisors, Andreessen Horowitz, DST Global, Douglas Merritt
Nov 1, 2023	AiSDR	$3.0M Seed	—	01 Advisors, Andreessen Horowitz, DST Global, Not Boring Capital, Otherwise Fund, RallyCry Ventures, Y Combinator, Douglas Merritt, Gokul Rajaram
Sep 1, 2023	Centenara Labs	$75.0M Series B	—	Define Ventures, Mubadala, Ayman AlAbdallah
Aug 1, 2023	Daybreak Health	$13.0M Series B	—	125 Ventures, 14W, Adjacent, Audrey Capital, BBG Ventures, B Capital Group, Beckley Waves, Bond, BoxGroup, Cherubic Ventures, Ali Tamaseb, Elefund, Fifty Years, Future Perfect Ventures, General Catalyst, GenNx360, GE Ventures, Giant Ventures, Great Oaks Venture Capital, Hoxton Ventures, LAUNCH, Lightspeed Venture Partners, Lionheart Ventures, Listen, LombardStreet Ventures, Lux Capital, Maven Ventures, Mystic Ventures, Oak HC/FT, PsyMed Ventures, Resolute Ventures, Sequoia Capital, Sound Ventures, Supply Change Capital, Target Global, Teamworthy Ventures, Uncork Capital, Union Square Ventures, Uprising, Anne Wojcicki, Darius Contractor, Darran Garnham, Edvard Engesæth, Jeremy Yap, Joe Greenstein, Julie McDermott, Kirill Makharinsky, Liron Petrushka, Marc Benioff, Michael Birch, Oleg Tscheltzoff, Pete Moore, Raj Luhar, Saki Georgiadis, Yoni Assia
Jul 1, 2023	Terminal Industries	$17.0M Seed	—	8VC, Cisco Investments, Core Innnovation Capital, FinTLV Ventures, Lupa Capital, monashees, MS&AD Ventures, Norte Ventures, Rainfall Ventures, Symbol VC
Jun 1, 2023	Aledade	$260.0M Series F	—	Alkeon Capital, BoxOne Ventures, Buckley Ventures, Matt Ocko, Earl Grey Capital, Endeavor Venture Funds, FirstHand Alliance, Goat Capital, Greylock, GSV Ventures, IVP, LAUNCH, Lightspeed Venture Partners, Maven Ventures, Pario Ventures, Runa Capital, Shaan's All Access Fund, Tenaya Capital, Venrock, Aaron King, Aaron Rankin (Sprout Social), Adam Michalski, Bill Tai, Chris Fanini, Daniel Kan, Emmett Shear, Howard Schultz, Immad Akhund, Jason Hunt, Jay Jamison, Kyle Vogt, Mikhail Seregine, Oleg Rogynskyy, Paul George, Ted Serbinski, Vikas Gupta, Viral Bajaria, Vishal Rao
Jun 1, 2023	DexCare	$75.0M Series C	—	AlleyCorp, Andreessen Horowitz, B Capital Group, Curie.Bio, Define Ventures, General Catalyst, Mubadala, Operator Partners, Thirty Five Ventures, Transformation Capital, UP.Partners, Ayman AlAbdallah
Apr 1, 2023	Teamworks	$65.0M Series E	—	Alkeon Capital, AME Cloud Ventures, DVx Ventures, Hanabi Capital, Hardware Club, Storm Ventures, Anshu Sharma
Apr 1, 2023	Otis AI	$2.0M Seed	—	01 Ventures, 9Yards Capital, Kevin Hartz, Accel, Acrew Capital, Adverb Ventures, Alumni Ventures, AME Cloud Ventures, Audrey Capital, Benchstrength, Blitzscaling Ventures, Bond, Broadway Angels, C2 Investment, CapitalG, Coatue, Cota Capital, Craft Ventures, Daffy, Flex Capital, FPV Fund, General Catalyst, Hardware Club, Heretic Ventures, Incite Ventures, LOI Venture, Pear VC, Quiet Capital, Redpoint Ventures, SciFi VC, Seven Seven Six, Sherpalo Ventures, Sound Ventures, South Park Commons, SV Angel, Tribe Capital, Y Combinator, Aaron Levie, Aaron Patzer, Aston Motes, Charlie Cheever, Clara Shih, Dharmesh Shah, Doug Sleeter, Drew Houston, Eric Ries, Hiten Shah, Jared Leto, Jeff Seibert, Jeremy Stoppelman, Josh Silverman, Justin Rosenstein, Kris Duggan, Louis Beryl, Marco Zappacosta, Matt Mickiewicz, Phil Libin, Sam Altman, Seth Sternberg, Tien Tzuo, Tobias Lutke, Wayne Chang
Mar 1, 2023	HeadRace	$6.0M Seed	—	Boon Fund, Greylock, Impression Ventures, Meritech Capital Partners, Not Boring Capital, Balaji Srinivasan, Ryan Reynolds, Stuart Gardner, Tom Blomfield
Mar 1, 2023	Maqsad	$3.0M Seed	—	Also Capital, Countdown Capital, First Round Capital, Global Founders Capital, Index Ventures, Indus Valley Capital, Stellar Capital, Valhalla Ventures, Gerald Parloiu
Feb 1, 2023	Nestment	$4.0M Seed	—	Andreessen Horowitz, Ballistic Ventures, Concrete Rose Capital, DST Global, Founders Fund, Greenoaks Capital, IVP, Ribbit Capital, SciFi VC, South Park Commons, TCV, Tiger Global Management, Vamos Ventures, Y Combinator, Christopher Langford, Elad Gil, Justin Mateen, Larry Summers
Jan 1, 2023	Chronosphere	$120.0M Series C	—	Accel, Addition, Altimeter Capital, Alumni Ventures, Arbor Ventures, Avalanche VC, Bessemer Venture Partners, Blockchain Capital, Blossom Capital, Felicis Ventures, FirstHand Alliance, Founders Fund, General Atlantic, Geodesic Capital, Greylock, Sangeen Zeb, GV, Initialized Capital, Innovation Endeavors, Lux Capital, Modern Venture Partners, Operator Collective, SoftBank Investment Advisers, Spark Capital, Sutter Hill Ventures, Tiger Global Management, True Ventures, U&I Ventures, Wasabi Ventures, Amjad Masad, Bob Young, Catherine Lu, Jeff Hammerbacher
Dec 1, 2022	Genial Care	$10.0M Series A	—	8VC, Lupa Capital, monashees, Norte Ventures, Rainfall Ventures
Nov 1, 2022	UpStream Care	$140.0M Series B	—	ARCH Venture Partners, Cambridge Innovation Capital, Define Ventures, Ben Robbins, HealthCap, Mubadala, Ayman AlAbdallah
Nov 1, 2022	Maven Clinic	$90.0M Series E	—	Addition, Andreessen Horowitz, Forerunner Ventures, General Catalyst, Khosla Ventures, Lux Capital, Mischief Venture Capital, Next Ventures, Operator Partners, Sequoia Capital, SV Angel, Y Combinator, Vivek Garipalli
Jul 1, 2022	Reserv	$8.0M Seed	—	Alkeon Capital, Altai Ventures, AME Cloud Ventures, Bain Capital Ventures, DVx Ventures, Flourish Ventures, Hanabi Capital, Hardware Club, Madrona Ventures, QBE Ventures, Storm Ventures, Allison Pickens (Allison Pickens Ventures), Anshu Sharma, Marc Benioff

Financial History

Total Raised

N/A

Valuation

N/A

Deep Dive

Dragoneer Investment Group is a San Francisco-based growth equity firm founded in 2012 that focuses on investing in disruptive technology companies at the intersection of public and private markets. Its mission centers on empowering visionary entrepreneurs and delivering exceptional returns by partnering with innovative businesses poised for substantial growth. Dragoneer’s investment philosophy emphasizes long-duration capital deployment with a thematic focus on transformative technology sectors such as information technology, financial services, artificial intelligence, and machine learning. The firm supports companies across seed to later growth stages, impacting the startup ecosystem by providing flexible capital solutions including private growth equity and public market investments, often bypassing traditional fundraising routes through secondary stock sales or convertible debt[1][2][4].

Founded by Marc Stad, a Stanford MBA with prior experience at TPG Capital and McKinsey & Company, Dragoneer has evolved from a traditional growth equity firm into a crossover investor managing over $17 billion in assets under management (AUM), with significant dry powder for new investments. The firm has pioneered the use of SPACs (special purpose acquisition companies) to take private companies public, facilitating liquidity and growth for portfolio companies like CCC Information Services and Cvent. Dragoneer’s portfolio includes notable names such as Airbnb, Uber, DoorDash, Discord, and Databricks, reflecting its focus on high-growth, technology-driven businesses that solve complex market problems and scale rapidly[1][2][3].

Core Differentiators

Unique Investment Model: Dragoneer operates as a crossover fund, investing in both private and public markets, enabling flexible capital deployment and liquidity solutions such as SPAC mergers and secondary stock transactions.
Network Strength: Deep connections with institutional investors, founders, and public market participants enhance deal sourcing and support.
Track Record: Successful investments in iconic technology companies with multiple high-profile IPOs and exits, demonstrating strong value creation.
Operating Support: Provides strategic guidance leveraging market insights and operational expertise to help portfolio companies scale efficiently.

Role in the Broader Tech Landscape

Dragoneer rides the trend of technology-driven disruption across sectors like fintech, SaaS, and AI, capitalizing on the growing convergence of private and public markets. The timing is favorable due to increasing demand for flexible capital structures and alternative liquidity options amid volatile public markets. Market forces such as digital transformation, data-driven innovation, and globalization amplify Dragoneer’s influence, as it helps scale companies that redefine industries and consumer experiences. Its SPAC initiatives and crossover investment strategy contribute to shaping capital markets and startup ecosystems by bridging growth-stage companies with public investors[1][2][4].

Quick Take & Future Outlook

Looking ahead, Dragoneer is poised to continue leveraging its crossover model to identify and back the next generation of disruptive technology leaders. Trends such as AI adoption, fintech innovation, and enterprise software transformation will likely shape its investment focus. As public markets evolve and private companies seek alternative exit routes, Dragoneer’s expertise in SPACs and flexible capital deployment will enhance its role as a key enabler of growth and liquidity. Its influence is expected to deepen in both venture and public equity spaces, reinforcing its position as a premier growth equity firm at the nexus of innovation and capital markets[1][2][4].

Sources

Core Differentiators

Unique Investment Model: Dragoneer operates as a crossover fund, investing in both private and public markets, enabling flexible capital deployment and liquidity solutions such as SPAC mergers and secondary stock transactions.
Network Strength: Deep connections with institutional investors, founders, and public market participants enhance deal sourcing and support.
Track Record: Successful investments in iconic technology companies with multiple high-profile IPOs and exits, demonstrating strong value creation.
Operating Support: Provides strategic guidance leveraging market insights and operational expertise to help portfolio companies scale efficiently.

Dragoneer Investment Group