Dragoneer reportedly raises about $1 billion for continuation fund backed by stakes in OpenAI and SpaceX

Bloomberg reported that Dragoneer Investment Group raised about $1 billion for a new continuation fund using its equity holdings in high-profile private companies, including OpenAI, SpaceX, Databricks and wealth management firm Creative Planning. People familiar with the matter said the firm had originally targeted $2 billion, meaning the final raise came in below that goal. It remains unclear which assets were ultimately placed into the roughly $1 billion fund. According to the report, Dragoneer is using the continuation fund structure to hold some existing assets for a longer period, a move intended to make the vehicle more attractive to investors. The fundraising also points to a broader trend in private markets: stakes in sought-after technology companies such as OpenAI and SpaceX are drawing continued attention and are increasingly being used by asset managers as leverage in fundraising and portfolio restructuring.