
Experienced 40-year-old VC firm investing from new $1.8 billion fund dedicated to backing market leading later-stage growth companies
Menlo Park, Calif. May 12, 2021 IVP, a premier later-stage venture capital and growth equity firm, hit the ground running in 2021. Five of its portfolio companies, including Coinbase and UiPath, made their public market debuts since the beginning of the year and five others are scheduled to complete their IPOs by the end of the summer. Since January, the firm added six new companies to its portfolio, investing out of IVP XVII, its latest $1.8 billion fund. The firm, now with $8.7 billion in committed capital, typically serves as a lead investor in later-stage rounds with equity investments ranging in size from $10 to $150 million.
Since its founding in 1980, IVP refined its focus to become the optimal growth partner for top later-stage technology companies. The firm provides formative advice as companies remain private longer and work to grow their customer base and recurring revenue faster than ever before. IVP built its portfolio by investing exclusively in late-stage companies, years before the industry coined the term unicorn'. Today, IVP has seen over half of its active portfolio grow into the unicorn class, which has expanded to encompass over 600 companies.
IVP is built to serve all areas of growth. With exceptional operating, finance, and investment backgrounds, the investment partners are all hypergrowth experts and trusted go-to partners for founders scaling their operations, refining business strategies, recruiting key executives, and preparing for a public market debut. They help founders to navigate their early growth stage, one of the most challenging phases in a company's journey. IVP has decades of keen analytical prowess and collective analysis on growth trends, positioning them as the ecosystem's true experts. IVP has guided over 100 of its portfolio companies through public offerings.
Brian Armstrong, CEO of Coinbase, recalled a time when his company needed to make a key financial decision at a critical time. IVP Partner Tom Loverro, who led the company's Series D in 2017, stepped in at a pivotal moment to emphasize customer satisfaction over short term financial gain. As Armstrong says, to [Tom's] credit, he was unphased and told us he felt it was the right choice long term. Tom was one of the biggest advocates for us stepping up our game on senior hires, including customer support. He is always here for us, interviewing top candidates for our leadership roles, and hustling to get us great leads.
IVP's remarkable track record includes 120 IPOs and investments in over 400 companies since its founding including Attentive, Brex, Discord, Grammarly, HashiCorp, Hopin, Klarna, Lyra, MasterClass, Snap, Supercell, Twitter, Wise, and Zynga. With the recent successful IPOs of Coinbase, Compass, CrowdStrike, Datadog, Hims & Hers, Sumo Logic, The Honest Company, and UiPath, top entrepreneurs recognize that the IVP team plays an instrumental role in their success.
IVP continues to add exceptional talent to its investment team. General Partner Ajay Vashee, former CFO of Dropbox, joined the team this January, bringing additional operational and financial experience to the partnership. Partner Cack Wilhelm, who joined in late 2019, has years of operational expertise in DevOps and cloud, and helped land investments in CircleCI and Papaya Global. IVP also continues to promote from within, elevating Tom Loverro to General Partner, and Alex Lim to Partner, as he played an indispensable role in IVP's investments in Discord, Hopin, and UiPath.
Johnny Boufarhat, Founder and CEO of Hopin, chose IVP due to the team's high quality character. Recalling his first conversation with IVP General Partner Jules Maltz and Alex Lim, Boufarhat said, IVP took a very thoughtful approach with Hopin by spending a lot of time learning about the business and providing valuable forecasts in the space.
Andrew Dudum, CEO of Hims & Hers, touted the IVP team's expert guidance on scaling and achieving profitability at a pivotal moment. As Dudum said, IVP's been an incredibly flexible and supportive partner to our team throughout the entire process. Their pattern recognition for what differentiates high-growth companies is invaluable for a team with lofty ambitions and a desire to build something that can exist for many generations. They're also phenomenal people that always have the best interest of the team and the founders at heart.
For more, read our blog post.
About IVP
Founded in 1980, IVP is one of the premier later-stage venture capital and growth equity firms in the United States. The firm has invested in over 400 companies with 120 IPOs. IVP is one of the top-performing firms in the industry and has a 40-year IRR of 43.1%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. IVP investments include such notable companies as AppDynamics (CSCO), Attentive, Brex, Coinbase (COIN), Compass (COMP), CrowdStrike (CRWD), Datadog (DDOG), Discord, Dropbox (DBX), GitHub (MSFT), Glossier, Grammarly, HashiCorp, Hims & Hers (HIMS), Hopin, Klarna, LegalZoom, Looker (GOOGL), Marketo (MKTO), MasterClass, Mindbody (MB), MuleSoft (CRM), Netflix (NFLX), Niantic, Podium, Robinhood, Rubrik, Slack (WORK), Snap (SNAP), Supercell (Tencent), Tanium, Twitter (TWTR), UiPath (PATH), Wise, ZipRecruiter, and Zynga (ZNGA). For more information, visit www.ivp.com or follow IVP on Twitter: @ivp.
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