TCV, a Silicon Valley firm that invests in late-stage companies, raises $3B

Technology Crossover Ventures, a Palo Alto venture capital firm, has raised a new $3 billion fund, the firm said in a statement.

The firm will begin investing next year.

The company uses the word “crossover” in its name, because it invests in late-stage private companies, but also in public companies. It targets Internet, financial technology, infrastructure and communications, software and services and health care IT.

The firm is led by Jay Hoag and Richard Kimball.

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Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.

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