
Click here for 2015 Infographic
Menlo Park, CA December 16, 2015 During 2015, IVP raised a new $1.4 billion fund and distributed over $500 million in capital back to its Limited Partners, including the proceeds from three significant M&A transactions: Business Insider (Axel Springer), Datalogix (ORCL), and Supercell (SoftBank). In addition, the partnership reached a milestone of 103 portfolio company IPOs with MINDBODY (MB) and Pure Storage (PSTG) entering the public markets. IVP also announced 14 new investments as the firm continues to actively invest in high growth enterprise and consumer technology companies.
As a partner investor in innovative companies, such as AppDynamics, Domo, Dropbox, The Honest Company, Snapchat, Supercell, and Twitter, IVP remains committed to its focused strategy of supporting innovation at the later-stage and partnering closely with exceptional management teams.
$1.4 Billion Later-Stage Venture Capital and Growth Equity Fund
In April, IVP announced the closing of IVP XV, a $1.4 billion later-stage venture capital and growth equity fund. The new fund follows the recent success of IVP XII, a $600 million fund formed in 2007, IVP XIII, a $750 million fund formed in 2010, and IVP XIV, a $1 billion fund formed in 2012. Similar to prior funds, IVP XV was significantly oversubscribed. IVP XV is the largest fund raised in the firm's 35-year history and brings IVP's cumulative committed capital to $5.4 billion.
IPOs in 2015:
MINDBODY (MB), the leading provider of cloud-based business management software for the wellness services industry, went public in June. IVP made its initial investment in MINDBODY in October 2012. MINDBODY was the 102nd IPO in IVP's history.
Pure Storage (PSTG), the market's leading independent solid-state array vendor, went public in October. IVP made its initial investment in Pure Storage in September 2013. Pure Storage was the 103rd IPO in IVP's history.
Significant M&A Exits in 2015:
Datalogix, an innovative data services business connecting digital media and offline purchasing data, was acquired by Oracle (ORCL) for $1.2 billion in January. IVP made its initial investment in Datalogix in April 2013.
Supercell, a global leader in mobile gaming, sold its remaining investors' equity position to SoftBank in May. IVP made its initial investment in Supercell in February 2013.
Business Insider, a rapidly growing digital news provider focused on Wall Street, Technology, and other popular business verticals, was acquired by Axel Springer for $442 million in September. IVP made its initial investment in Business Insider in September 2011.
IVP Investments Announced in 2015:
AlienVault, a leading provider of Unified Security Management and crowd-sourced threat intelligence
App Annie, a decision-making platform for the mobile app economy
Casper, a next-generation retailer with a direct-to-consumer model for high-end mattresses, pillows, sheets, and other sleep-related products
Compass, a technology-driven real estate platform, combining exceptional agents with best-in-class technology
GitHub, the world's largest collaborative software development community
NerdWallet, a financial technology startup that provides consumers with additional clarity around key financial decisions at every stage of their lives
Pindrop, a pioneer in phone fraud prevention and call center authentication
Slack, a business-focused messaging platform for teams which unites communication and collaboration
SoFi, a leader in marketplace lending
SteelBrick, the fast-growing provider of next-generation quote-to-cash software applications built on the Salesforce platform
Sumo Logic, a leading purpose-built, cloud-based, machine data analytics service
Tanium, an endpoint management company redefining security and systems management
Vessel, a next generation video platform targeting premium short-form content
Walker & Company Brands, an online retailer making health and beauty simple for people of color
Industry Recognition
In 2015, three of IVP's General Partners - Todd Chaffee, Sandy Miller, and Dennis Phelps - were named to the prestigious Forbes Midas List of the Top 100 Tech Investors. Todd has been included on all the Midas Lists since 2009. Sandy is one of only eight venture capitalists who have been on all the Midas Lists since 2007. Dennis returned for the second time to the Midas List. GrowthCap named IVP #1 on their Top 25 Growth Equity Firms List and named Jules Maltz #2 on the GrowthCap Top 40 Under 40 Growth Investors List, which highlights exceptional private capital investors in the growth segment. Entrepreneur Magazine named IVP on their VC 100 List. In addition, AlwaysOn recognized IVP's General Partners, Steve Harrick, Eric Liaw, Jules Maltz, Sandy Miller, and Dennis Phelps in AlwaysOn 2015 Power Players in FinTech List.
IVP has eight partners and six additional investment professionals focused on identifying later-stage growth companies in the consumer and enterprise sectors. IVP is one of the top performing firms in the venture capital industry, typically serving as a lead investor in later-stage rounds with equity investments ranging from $10 to $100 million.
Promotions and New Hires
Throughout its history, IVP has helped hundreds of businesses scale and achieve long-term value. The IVP partnership has worked closely together for over ten years with a consistent focus on later-stage investing.
IVP's success in 2015 coincided with several important promotions and new hires during the year. Somesh Dash and Eric Liaw were promoted to General Partners in recognition of their contributions to the firm and highlight IVPs continued emphasis on strengthening its investment team. In addition, the firm hired Tracy Hogan, the former Chief Financial Officer and Chief Compliance Officer of Elevation Partn
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