Dragoneer Raises About $1 Billion for New Continuation Fund Backed by OpenAI and SpaceX Stakes

Investment firm Dragoneer Investment Group raised about $1 billion for a new continuation fund backed by equity stakes in OpenAI, SpaceX, Databricks, and wealth manager Creative Planning. According to Odaily, people familiar with the matter said Dragoneer had initially targeted $2 billion, and it is not yet clear which assets are included in the final $1 billion fund. Dragoneer aims to use the continuation fund to hold some existing assets for a longer period. The fundraising also reflects how early or private equity stakes in popular private technology companies have become important tools for asset managers seeking capital and restructuring deals as valuations of companies such as OpenAI and SpaceX remain closely watched.