TCV Aims for $5.5 Billion for Latest Growth Fund

Technology Crossover Ventures, which has backed vacation rental company Airbnb Inc., exercise equipment maker Peloton Interactive Inc. and video streaming service Netflix Inc., has returned to the fundraising circuit and is targeting $5.5 billion for its latest flagship private-equity fund, according to people familiar with the effort.

The latest fundraising efforts by the firm also known as TCV come almost a year after the Menlo Park, Calif.-based growth investor secured $4 billion for a predecessor fund, TCV XI LP. If the firm achieves its target, the latest fund would be almost 38% larger.