
Menlo Park, CA December 21, 2010 - Institutional Venture Partners (IVP), one of the premier later-stage venture capital and growth equity firms, celebrated its 30th year with a new $750 million fund and eight new investments in market-leading companies. IVP's success is derived from working with innovative companies such as HomeAway, Twitter, and Zynga that are creating new industries and redefining old ones. With a strong team and significant momentum, IVP remains committed to its focused strategy of investing in rapidly-emerging technology and digital media companies throughout the United States.
$750 Million Later-Stage Venture Capital and Growth Equity Fund
In August, IVP announced the closing of Institutional Venture Partners XIII (IVP XIII), a $750 million later-stage venture capital and growth equity fund. This new fund follows the recent success of IVP XII, a $600 million fund formed in 2007. The fund was oversubscribed and its closing was a confirmation of LP support for IVPs focused strategy and experienced team. IVP XIII is the largest fund IVP has raised in its thirty year history and brings the firms cumulative committed capital to $3 billion.
New Portfolio Companies
IVP led a $23 million later-stage venture financing in Buddy Media, the social media management system of choice for eight of the ten worlds largest advertisers.
IVP led a $10 million later-stage venture financing in DoubleVerify, the pioneer and market leader in online advertising verification.
IVP led a $68 million growth equity financing in FleetMatics, a market leader of GPS tracking applications for commercial fleets.
IVP led a $10 million shareholder liquidity transaction in Kayak, the worlds leading travel search engine.
IVP led a $30 million later-stage venture financing in LensVector, the leader in solid-state optical components for camera phones, laptops and other consumer electronics.
IVP led a $25 million later-stage venture financing in Marketo, the global leader in Revenue Performance Management solutions that significantly increase an enterprise's marketing and sales success.
IVP led a $25 million later-stage venture financing in ngmoco, a leading publisher and developer of social games for iPhone OS devices. Late in the year, ngmoco was acquired by DeNA for up to $400 million in cash and securities.
IVP led a $16 million later-stage venture financing in Spiceworks, provider of the first and only social IT management application connecting the world's IT pros and top technology companies.
Industry Recognition
AlwaysOn named IVP to its 2010 Venture Capital 100 list featuring venture capital firms that are leading the industry in making high-growth private company investments.
Norm Fogelsong, General Partner, was elected to the National Venture Capital Association (NVCA) Board of Directors to help guide the industry that has had the largest impact on job creation in the private sector over the last thirty years.
Promotions and New Hires
Recognizing that success begins with a strong team, IVP made a number of promotions and new hires during the year. Melanie Chladek was promoted to the position of Administrative Partner and Chief Financial Officer, Jules Maltz was promoted to Principal, Somesh Dash was promoted to Vice President, and James Newell was promoted to Senior Associate. In addition, IVP added two new Associates, Daniel Barney and Richard Kerby, to its investment team.
IVP has five general partners and six active investment professionals focused on identifying later-stage growth companies in the Internet & Digital Media, Enterprise IT, and Communications & Wireless sectors. In 2011, the firm will continue to expand its team to pursue additional investments in fast-growing companies with significant revenue traction.
About Institutional Venture Partners (IVP)
With $3 billion of committed capital, Institutional Venture Partners (IVP) is one of the premier later-stage venture capital and growth equity firms in the United States. The partnership is currently investing IVP XIII, a $750 million later-stage fund focused on investments in rapidly growing technology and digital media companies. Founded in 1980, IVP has invested in over 300 companies, 85 of which have gone public. IVP has a 30 year IRR of 43.2% and is one of the top performing firms in the industry. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions and select public market investments. Since its inception, IVP investments include such notable companies as ArcSight (ARST), Aspect Communications (ASPT), At Road (ARDI), Business.com (RHD), Clarify (CLFY), ComScore (SCOR), Concur Technologies (CNQR), Danger (MSFT), Digital River (DRIV), Form Factor (FORM), Foundry Networks (FDRY), HomeAway, Juniper Networks (JNPR), Kayak, LSI Corporation (LSI), Mobile 365 (SY), MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Quigo (TWX), Seagate (STX), Synchronoss (SNCR), Tivo (TIVO), Twitter, Websense (WBSN) and Zynga. For more information, visit http://www.ivp.com or follow IVP on Twitter: http://twitter.com/ivp.
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