Dragoneer Investment Group, LLC
Marc Stad · San Francisco, CA · Founded 2012
Dragoneer Investment Group is a growth-oriented technology investor founded in 2012 by Marc Stad, based at the Letterman Digital Arts Center in San Francisco. It runs long-only public funds alongside private growth equity, backed by endowments, foundations and sovereign wealth funds — long-duration capital that lets it hold private positions for years.
Stad started the firm with roughly $1 million and has grown it into one of the larger tech crossover platforms; press reporting in 2026 put assets around $37 billion. Dragoneer has backed Airbnb, Uber, DoorDash, Snowflake, Slack, Spotify, OpenAI and Anthropic on the private side. It also ran three SPACs in the 2020–21 window: DGNR, which took CCC Information Services public in a $7 billion deal, DGNS, which merged with Cvent at $5.3 billion, and DGNU.
The 13F book is small relative to that footprint, because most of Dragoneer's exposure is private and therefore not reportable here. The June 2026 filing shows 12 positions worth $2.8 billion. The tables below cache Dragoneer's four most recent 13F filings; positions in companies R40 tracks are linked to their pages.
History
Marc Stad launches the San Francisco firm with about $1 million in assets, targeting growth-stage technology in public and private markets.
Dragoneer Growth Opportunities Corp raises $600 million and merges with CCC Information Services at a $7 billion valuation; a second vehicle takes Cvent public at $5.3 billion.
Dragoneer participates in the February 2026 financing for Alphabet's autonomous-driving unit.
Announced 22 August 2026, Stad takes controlling ownership of the Minnesota Timberwolves and Lynx at a combined $4.5 billion valuation.
2026 Q2 holdings
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | SPCXSpaceX★ | CLASS A COM STK | $1.37B | 8.0M | 48.2% | NEW |
| 2 | AMDAdvanced Micro Devices, Inc.★ | COM | $548.4M | 944K | 19.3% | NEW |
| 3 | AMZNAmazon.com, Inc.★ | COM | $303.0M | 1.3M | 10.7% | NEW |
| 4 | Innio Nv | ORDINARY SHARES | $112.7M | 2.9M | 4.0% | NEW |
| 5 | KLARKlarna Group plc★ | SHS | $98.3M | 4.9M | 3.5% | TRIM |
| 6 | CBRSCerebras Systems Inc.★ | COM CL A | $88.4M | 400K | 3.1% | NEW |
| 7 | Chime Finl Inc | COM SHS CL A | $88.2M | 4.3M | 3.1% | HOLD |
| 8 | Servicetitan Inc | SHS CL A | $70.8M | 1.0M | 2.5% | HOLD |
| 9 | Nu Hldgs Ltd | ORD SHS CL A | $66.2M | 5.0M | 2.3% | HOLD |
| 10 | Ccc Intelligent Solutions Hl | COM | $47.5M | 9.2M | 1.7% | HOLD |
| 11 | Global E Online Ltd | SHS | $35.4M | 1.0M | 1.3% | TRIM |
| 12 | Root Inc | CL A NEW | $8.6M | 154K | 0.3% | HOLD |
Notable 2026 Q2 moves
New positions
- SPCX SpaceX $1.37B
- AMD Advanced Micro Devices, Inc. $548.4M
- AMZN Amazon.com, Inc. $303.0M
- Innio Nv $112.7M
- CBRS Cerebras Systems Inc. $88.4M
Exited
- NVDA NVIDIA Corporation was $650.2M
- Coupang Inc was $525.9M
- META Meta Platforms, Inc. was $407.8M
- CVNA Carvana Co. was $393.9M
- XYZ Block, Inc. was $175.6M
- Sailpoint Inc was $105.9M
- DDOG Datadog, Inc. was $32.1M
- Wealthfront Corp was $6.1M
- Oscar Health Inc was $4.2M
- Zoominfo Technologies Inc was $4.0M
Position history in tracked names
Quarter-end value of each holding that has a page on R40, most recent first.
| Stock | 2026 Q2 | 2026 Q1 | 2025 Q4 | 2025 Q3 |
|---|---|---|---|---|
| SPCXSpace Exploration Techn Corp | $1.37B | — | — | — |
| AMDAdvanced Micro Devices Inc | $548.4M | — | — | — |
| AMZNAmazon Com Inc | $303.0M | — | — | — |
| KLARKlarna Group Plc | $98.3M | $76.0M | $239.5M | $303.6M |
| CBRSCerebras Systems Inc | $88.4M | — | — | — |
| NVDANvidia Corporation | — | $650.2M | $493.9M | $387.8M |
| METAMeta Platforms Inc | — | $407.8M | — | — |
| CVNACarvana Co | — | $393.9M | $413.4M | $256.1M |
| XYZBlock Inc | — | $175.6M | $324.0M | $473.4M |
| DDOGDatadog Inc | — | $32.1M | $37.0M | $38.7M |