Overview
For purposes of this brochure, the “Adviser” means TCMI, Inc., a Delaware corporation, together
(where the context permits) with related general partner or management entities that provide
advisory services to and/or receive advisory fees from the Funds (as defined below). Such entities
generally are under common control with TCMI, Inc., or possess a substantial crossover of
personnel and/or equity owners with TCMI, Inc. These entities may be formed for tax, regulatory
or other purposes in connection with the organization of the Funds. The Adviser conducts business
under the trade names “TCV” or “Technology Crossover Ventures”.
The Adviser provides investment supervisory services to investment vehicles (the “Funds”) that
are exempt from registration under the Investment Company Act of 1940, as amended (the “1940
Act”), and whose securities are not registered under the Securities Act of 1933, as amended (the
“Securities Act”).
The Funds make primarily long-term private equity and equity-related investments and have in the
past and may in the future make investments in debt instruments. In accordance with the Funds’
respective investment objectives, investments are generally made in companies doing business in
information technology and, more specifically, in technology companies primarily in the following
four broad sectors: Internet, Software, Enterprise IT and Services. The Adviser’s advisory services
consist of investigating, identifying and evaluating investment opportunities, structuring,
negotiating and making investments on behalf of the Funds, managing and monitoring the
performance of such investments and disposing of such investments.
The Adviser provides investment supervisory services to each Fund in accordance with the
governing documents of such Fund, separate investment management or portfolio management
agreements (an “Advisory Agreement”) and/or side letters with Fund investors (together,
“Governing Documents”).
Investment advice is provided directly to the Funds and not individually to the investors in the
Funds. Investment restrictions for the Funds, if any, are generally established in the Governing
Documents of the applicable Fund.
The principal owner of TCMI, Inc. is Jay C. Hoag. The Adviser has been in business since 1995.
As of December 31, 2023, the Adviser managed a total of $20,010,548,119 of client assets, all of
which is managed on a discretionary basis.