RECENT FUNDING
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T

TCV portfolio

TCV has 28 portfolio companies on record at Recent Funding, with 10 investments in the last 12 months.

Website: tcv.com.
Type: Growth equity.
Portfolio on Recent Funding: 28.
Deals, last 12 months: 10.
Rounds led: 20 of 42.
Capital in their rounds: $8.63B.
Latest deal: Upwind · Oct 28, 2026.
About this page

It is a growth equity firm based in Menlo Park, US, founded in 1995. It led 20 of the 42 rounds it joined. Its most recent investment on record is Upwind's $400M Series B+ round in October 2026, alongside Craft Ventures, Cyberstarts, Canapi Ventures and 6 others. By category, its portfolio leans toward Developer tools and cloud (12) and Fintech (10). It has co-invested with Greylock, Craft Ventures and Salesforce Ventures, most often Greylock (6 rounds).

About TCV

Firm type: Growth equity.
Headquarters: Menlo Park, US.
Founded: 1995.
Stages: Series C, Growth.
Sectors: AI & Machine Learning, Cloud Computing, Consumer, Defense Tech, Enterprise Software, Fintech, SaaS, Sector Agnostic, Space Tech.
Check size: $10M to $500M.
Leads rounds: Yes.
Portfolio companies: 358.
Exits: 22.
Rounds led: 53.

Fund returns

FundVintageSizeNet IRRTVPIDPIAs of
TCV XII2022—52.0%1.36x0.00xJun 30, 2025
TCV XI2021—6.3%1.20x—Sep 30, 2025
TCV L.P.2019——2.44x—Mar 31, 2025
TCV X2019—23.7%2.90x0.58xSep 30, 2025
TCV Sports2018—15.9%2.79x0.33xSep 30, 2025
TCV IX2016—19.9%2.30x1.44xSep 30, 2025
TCV VIII2014—12.2%2.30x1.77xSep 30, 2025
TCVVII, L.P.2008——3.18x3.16xSep 30, 2025
TCV VI2006—12.4%1.58x1.57xSep 30, 2025
Tcv V2004—10.6%1.85x1.85xDec 31, 2024

What TCV invests in

TCV recent investments

CompanyRoundDateAlongside
UUpwindSeries B+ · $400MCraft Ventures, Cyberstarts, Canapi Ventures +6
AArchySeries B+ · $50MAlven, JMI Equity (lead), CRV +2
UUpwindSeries B+ · $300M · leadCraft Ventures, Cyberstarts, Greylock +4
CCorgiSeries B+ · $160M · leadOliver Jung, Leblon Capital, Vocal Ventures +6
MMercury TechnologiesSeries B+ · $200M · leadnone named
AAidocSeries B+ · $150MSoftBank Investment Advisers, TLV Partners, Goldman Sachs Alternatives (lead) +4
GGrow TherapySeries B+ · $150M · leadGoldman Sachs Growth Equity (lead), BCI, Menlo Ventures +3
AAllicaSeries B+ · $155MGLG (lead), Ventura Capital (lead), Sona Asset Management (lead) +1

How TCV invests

StageDealsCapital in rounds
Series B+ 38 90%$8.44B
Series A 4 10%$194M
YearDealsCapital in rounds
2019 3 7%$338M
2020 2 5%$192.5M
2021 12 29%$2.76B
2022 8 19%$1.7B
2023 1 2%$170M
2024 3 7%$1.09B
2025 3 7%$560M
2026 10 24%$1.83B

TCV portfolio companies

CompanyRound with TCVTotal raisedLatest raise
UUpwind
Cybersecurity
 Series B+ · $400M$1.13BOct 28, 2026
Series B+
AArchy
Health and bio
 Series B+ · $50M$95MSep 11, 2026
Series B+
CCorgi
Fintech
 Series B+ · $160M · lead$308.7MAug 31, 2026
Series B+
MMercury Technologies
Stablecoins
 Series B+ · $200M · lead$200MMay 21, 2026
Series B+
AAidoc
Health and bio
 Series B+ · $150M$373MApr 29, 2026
Series B+
GGrow Therapy
Insurance
 Series B+ · $150M · lead$328MMar 3, 2026
Series B+
AAllica
Lending and credit
 Series B+ · $155M$523.81MFeb 25, 2026
Series B+
NNeara
Climate and energy
 Series B+ · $63M · lead$101MFeb 10, 2026
Series B+
PPennylane
Fintech
 Series B+ · $200M · lead$437.59MJan 20, 2026
Series B+
CClio
Legal and compliance
 Series B+ · $500M$1.79BNov 10, 2025
Series B+
SSquint
Foundation models and research
 Series B+ · $40M · lead$53MAug 12, 2025
Series B+
EEmployment Hero
Fintech
 Series B+ · $170M · lead$337.51MOct 23, 2023
Series B+
EEvisort
Legal and compliance
 Series B+ · $100M · lead$156MJun 23, 2022
Series B+
BBackbone
Developer tools and cloud
 Series A · $40M$40MSep 3, 2026
Pre-seed
BBrex
Fintech
 Series B+ · $300M · lead$982MJan 22, 2026
Series A
QQonto
Fintech
 Series B+ · $550M · lead$701MJan 11, 2022
Series B+
MMiro
Sales and marketing
 Series B+ · $400M$476MJan 5, 2022
Series B+
ZZepz
Stablecoins
 Series B+ · $292M$559MOct 4, 2024
round
IInstawork
Health and bio
 Series B+ · $60M · lead$138MJul 5, 2023
Series B+
MMollie
Stablecoins
 Series B+ · $790M$924MJun 1, 2021
Series B+
CCognite
Climate and energy
 Series B+ · $150M · lead$150MMar 24, 2026
Series B+
WWealthsimple
Crypto payments
 Series B+ · $610M$1.75BOct 28, 2026
Series B+
EElisity
Robotics and hardware
 Series A · $26M$78.5MMay 5, 2026
Series A
RRedis
Data and analytics
 Series B+ · $110M$355MApr 4, 2024
Series B+
OOnyx Security
AI agents
 backer · source$113MJul 29, 2026
Series B+
AActively
Sales and marketing
 backer · source$45MJul 24, 2026
Series B+
AAlbert Invent
Health and bio
 backer$30.5MOct 14, 2026
Series B+
FFirst Due
Legal and compliance
 backer$355MAug 5, 2025
round

Most frequent co-investors

Similar investors

Investors whose portfolios on Recent Funding center on the same category (Developer tools and cloud).

How this is counted

Net returns as reported by the public-pension and foundation LPs invested in each fund.

Firm profile and fund returns: Fundraising Fox Open Dataset v2026-11, CC BY 4.0. Track-record counts are theirs, not Recent Funding's.

Share is of the 42 rounds on Recent Funding that name TCV. Rounds with no announced date are left out of the year split, and "round" is a round whose stage is not on file.

Portfolio companies are the companies on Recent Funding with a round that lists TCV, which is a subset of its real portfolio. API: /api/v1/investors/tcv (get a free API key). More: the most active VC firms and new venture capital funds.

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