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Dragoneer, Altimeter Look to New Funds as Unicorns Burgeon

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Marc Stad’s Dragoneer Investment Group and Brad Gerstner’s Altimeter Capital Management are each seeking to raise new vehicles dedicated to backing fast-growing technology companies, according to a person with knowledge of the matter.

Dragoneer is in talks to raise $2.5 billion and Altimeter has targeted $1 billion for bets on startups, the person said. The firms are courting so-called limited partners such as pension funds, sovereign wealth funds and family offices, the person said. Terms of the fundraising efforts aren’t finalized and could still change.