Dragoneer Investment Group, a San Francisco-based growth equity firm managing roughly $15 billion, raised about $1 billion for a continuation fund initially targeting $2 billion. The vehicle includes positions in OpenAI, SpaceX, Databricks and Creative Planning, while allowing Dragoneer to retain holdings such as Amwins Group and healthcare-technology company PointClickCare. Discounts ranged from 5% to 20%, with some assets offered at no discount, compared with average discounts of 30% to 35% for venture and growth-stage secondary stakes in the first half of 2026. Dragoneer committed more than $1 billion to OpenAI during 2025, while a new position in SpaceX was valued at approximately $1.37 billion in the second quarter of 2026. The firm, founded in 2012 by Marc Stad, invests across public and private equity and targets a 2:1 ratio of public to private holdings. The pricing could encourage other managers with sought-after technology and artificial-intelligence assets to pursue similar continuation-fund structures.