Technology Crossover Ventures closed its latest private equity fund, TCV XI, at $4 billion, a spokeswoman confirmed in an email.
The venture capital fund invests in high-growth technology firms in sectors such as digital media, e-commerce and entertainment.
The manager's previous fund, TCV X, closed at $3.2 billion in January 2019.
Investors in the current fund include the $120.5 billion New York State Teachers' Retirement System, Albany; $16.1 billion Maine Public Employees Retirement System, Augusta; and $9 billion District of Columbia Retirement Board.
As of Dec. 31, the manager had $23.3 billion in assets under management.