Dragoneer Offers OpenAI Stake to Raise $2 Billion Fund
San Francisco-based Dragoneer Investment Group offered its stakes in high-profile companies like OpenAI and SpaceX as incentives while attempting to raise a $2 billion continuation fund. Although the firm initially aimed for double that amount, it ultimately secured $1 billion from investors. The goal is to maintain ownership of key assets such as Amwins Group and PointClickCare by restructuring them into this new hybrid fund with a public-to-private ratio target of 2:1. The move reflects broader trends in the private equity industry where continuation funds are increasingly used to extend holding periods on top-performing investments. Dragoneer also considered including stakes in Databricks and Creative Planning as part of its fundraising strategy, highlighting growing demand for access to AI-related assets among secondary market buyers. The fund's valuation discounts ranged from 5% to 20%, with some companies valued at full net asset value.
Tickers: $DBX
Topics: Amwins Group Creative Planning Databricks Dragoneer OpenAI PointClickCare SpaceX