US-based investment firm Dragoneer Investment Group has received $75m in commitments for its latest fund from insurance providers Fubon Life and Taiwan Life, DealStreetAsia has reported, citing a regulatory filing.
Fubon Life, part of financial services group Fubon Financial Holdings, is providing $65m for Dragoneer Opportunities Offshore Feeder VI – a feeder vehicle for Dragoneer Opportunities Fund IV – while CTBC Financial Holdings subsidiary Taiwan Life is putting up $10m.
Following the investment, Fubon will hold a 2.6% stake in the vehicle while CTBC will have a 0.4% stake, the filing stated. Those figures would put the targeted close of the fund at $2.5bn.
