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SAN FRANCISCO, March 10, 2023 - Dragoneer Investment Group, LLC (Trades, Portfolio), a renowned investment firm, has recently made a significant addition to its portfolio. This move comes as Dragoneer, known for its successful investments in companies such as Alibaba, Slack, and Uber, has been pulling back this year, completing only 21 deals so far.
The latest addition to the portfolio is Arco Platform Limited (NASDAQ: ARCE), a leading operating system for K-12 schools. Arco announced today that it has entered into a revised non-binding proposal from General Atlantic and Dragoneer Investment Group, expressing their interest in acquiring all of Arco's outstanding shares. This proposal marks a potential turning point for Arco as it considers going private.
The Milken Institute Global Conference, currently taking place in Beverly Hills, has attracted a diverse range of attendees. The conference serves as a platform for industry leaders and investors to discuss emerging trends and opportunities. Dragoneer Investment Group, known for its exceptional investment strategies, will likely be a topic of interest at the conference.
General Atlantic LLC and Dragoneer Investment Group have proposed taking Arco Platform Ltd. private. This proposal comes at a time when the Brazilian tech-education company's shares are experiencing significant growth. If the proposal is accepted, it could lead to a major shift in Arco's future direction.
In other news, sports software-as-a-service (SaaS) company, Teamworks, has successfully raised $65 million in a series E funding round. The Durham-based firm plans to utilize the funds to accelerate its global expansion plans. With the support of Dragoneer Investment Group, Teamworks aims to solidify its position as a leading provider of cloud software in the sports industry.
