Institutional Venture Partners Closes $300 Million Fund; IVP XI Will Finance Expansion-Stage Technology Companies.MENLO PARK, Calif. -- Institutional Venture Partners (IVP IVP abbr. intravenous pyelogram IVP (Intravenous pyelogram) The use of a dye, injected into the veins, used to locate kidney stones. Also used to determine the anatomy of the urinary system. ), one of the nation's premier venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] , announced today it has closed Institutional Venture Partners XI, L.P. (IVP XI), a $300 million venture capital fund that will invest in rapidly-growing, expansion-stage companies within the information technology industry. Founded in 1980, IVP's cumulative committed capital now exceeds $1.6 billion. The Managing Directors of IVP XI are Todd Chaffee, Reid Dennis, Norm Fogelsong, Steve Harrick and Dennis Phelps. Combined, the fund's investment team has more than 100 years of venture capital experience. "The demand for expansion-stage capital has increased significantly in the past few years," said Norm Fogelsong, Managing Director of IVP. "We look forward to capitalizing on this opportunity and to building upon our track record that spans more than two decades of high tech investing." "Relentless technology innovation and improving economic conditions are a good sign for us," said Todd Chaffee, Managing Director of IVP. "We are encouraged by the rapid advancements in next-generation hardware platforms, application software and wireless networks, and we look forward to funding the emerging leaders in these rapidly-growing markets." IVP's most recent fund, IVP X, is one of the top-performing IT venture capital funds Venture Capital Funds An investment fund that manages money from investors seeking private equity stakes in small and medium-size enterprises with strong growth potential. Notes: of its vintage year. Formed in 2000 and capitalized at $225 million, IVP X has invested in 28 companies to date, of which 21 are generating more than $20 million in annual revenue and 14 are now profitable. Representative investments include ArcSight, Danger, Mobile365 and Vonage Holdings. IVP XI was originally targeted to be capitalized at $250 million, but the fund was oversubscribed Refers to connecting more users to a system than can be fully supported if all of them were using it at the same time. Networks and servers are almost always designed with some amount of oversubscription, counting on the fact that everybody does not need the service simultaneously. and closed at its $300 million legal cap. Limited partners in IVP XI include university endowments, public pension funds, private equity fund-of-funds, and high net worth individuals. About Institutional Venture Partners With more than $1.6 billion of cumulative committed capital, IVP is one of the nation's premier venture capital firms. Founded in 1980, IVP has invested in more than 200 privately-held companies, of which more than 80 have gone public. IVP has invested in such notable companies as Altera (ALTR), Aspect Communications (ASPT ASPT American Society of Plant Taxonomists ASPT American Society of Phlebotomy Technicians ASPT Average Score Per Taxon (neural networks) ASPT Academy of Screen Printing Technology ASPT Army School of Physical Training ), Atmel (ATML ATML Automatic Test Markup Language ATML Automated Test Markup Language ), Borland (BORL), Cirrus Logic (CRUS), Clarify (CLFY), Concur Technologies (CNQR), FormFactor (FORM), Foundry Networks (FDRY), Juniper Networks (JNPR JNPR Juniper Networks, Inc. (stock symbol) ), LSI Logic (LSI), MMC Networks (MMCN), NetFlix (NFLX), Polycom (PLCM), Seagate (SGAT), Sequent (SQNT) and Tivo (TIVO). IVP has offices in Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. , and San Francisco. IVP's website is www.ivp.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion