Institutional Venture Partners

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IVP
Private
Industry Venture Capital
Founded 1980
Founder Reid Dennis
Headquarters Sand Hill Road
Menlo Park, California
Total assets $4.0 billion
Number of employees
~30+
Website www.ivp.com

Institutional Venture Partners (IVP) is a US-based private equity investment firm focusing on later-stage venture capital and growth equity investments. IVP is one of the oldest venture capital firms on Sand Hill Road founded in 1980.

History[edit]

While Reid W. Dennis was an analyst at the Fireman's Fund Insurance Company starting in 1952, he started an informal network of screened individual investors (now called angel investors). In 1974, Dennis founded Institutional Venture Associates (IVA), funded by six six institutions such as American Express.[1] Burton J. McMurtry and David Marquardt, who had been involved with IVA, left and founded Technology Venture Investors, the first investor in Microsoft.[2]:236 These were some of the first venture capital firms located on Sand Hill Road near Stanford University, within Silicon Valley. With his personal wealth and that of other partners, Dennis founded Institutional Venture Partners in 1980.[3] The first IVP fund had $2.2 million.[4] In a field that was generally male-dominated, Ruthann Quindlen became a rare female general partner in 1994.[4][5] After the burst of the dot-com bubble in 1999, partners from IVP combined with Brentwood Venture Capital formed Redpoint Ventures, which would specialize in digital media and Internet companies,[6] and Palladium Venture Capital to focus on health science investments.[2]:307

IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. It only makes a small number (about 12 to 15) relatively large investments per year. Its fourteenth fund raised about $1 billion in June 2012.[7] Its fifteenth fund raised $1.4 billion in April 2015.[8]

Investments[edit]

Early investments included ArcSight, Akamai Technologies, AppDynamics, Ask Jeeves, Business.com, Care.com, ComScore, Concur Technologies, Danger, Digital River, Dropbox, Foundry Networks, HomeAway,[9] Juniper Networks, Kayak.com, LegalZoom, LifeLock, LSI Corporation, Marketo, MySQL, Netflix, ngmoco, Polycom, Quigo, RetailMeNot, Seagate Technology, Shazam, Spiceworks, TiVo, Websense, Zynga and Voxer.

IVP invested in Twitter in February 2009,[10][11] and in Fleetmatics and Marketo in 2010.[12]

In 2013, IVP invested in AppDynamics, Ayasdi, Datalogix (Oracle acquired Datalogix for $1.2 billion in January 2015[13]), Dataminr, Dropcam that was later acquired by Nest in 2014,[14] OnDeck Capital (OnDeck went public in December 2015[15]), Oportun,[16] Pure Storage (Pure Storage went public in October 2015[17]), Snapchat, Supercell (Softbank and GungHo acquired a 51% interest in Supercell in October 2013 at a $3.1 billion valuation[18]) and TuneIn.[19]

In 2014, IVP invested in AdRoll,[20] General Assembly[21] (IVP general partner Todd Chaffee joined its board of directors[22]), Indiegogo[23] (as part of the deal, IVP General Partner Jules Maltz joined Indiegogo‘s board of directors[24]), Klarna, Prosper Marketplace,[25] SoundCloud,[26] Threatstream (Anomali),[27] Whip Networks,[28] Woven Digital,[29] xAd,[30] ZEFR[31] (IVP general partner Dennis Phelps joined ZEFR‘s board of directors[32]), Zendesk (ZEN),[33] Zenefits,[34] and ZipRecruiter.[35]

In 2015, IVP invested in AlienVault,[36] App Annie[37] (as part of the deal, IVP General Partner Eric Liaw joined App Annie's board of directors), Casper,[38] Compass,[39] GitHub,[40] NerdWallet[41] (as part of the deal, IVP General Partner Jules Maltz joined NerdWallet‘s board of directors), Pindrop[42] (as part of the deal, IVP General Partner Somesh Dash joined Pindrop‘s board of directors), Slack,[43] SoFi,[44] SteelBrick[45] (Salesforce acquires Steelbrick in December 2015[46]), Sumo Logic,[47] Tanium,[48] Vessel,[49] and Walker & Company Brands.[50]

References[edit]

  1. ^ Udayan Gupta (2000). "Reid Dennis: Institutional Venture Partners". Done Deals: Venture Capitalists Tell Their Stories. Harvard Business Press. pp. 179–190. ISBN 9780875849386. 
  2. ^ a b Chong-Moon Lee (2000). The Silicon Valley Edge: A Habitat for Innovation and Entrepreneurship. Stanford University Press. ISBN 9780804740630. 
  3. ^ "San Mateo County History Makers". San Mateo County History Museum. 2013. Retrieved October 16, 2016. 
  4. ^ a b Ruthann Quindlen (2000). Confessions of a Venture Capitalist: Inside the High-Stakes World of Start-up Financing. Grand Central Publishing. ISBN 9780446930772. 
  5. ^ John Markoff (April 13, 1997). "Seeking the Software Stars of the Future". New York Times. Retrieved October 16, 2016. 
  6. ^ Om Malik (September 23, 1999). "Even for VCs, bigger is better". Forbes. Retrieved October 16, 2016. 
  7. ^ Evelyn M. Rusli (June 28, 2012). "Why Venture Firm IVP Raised $1.4 Billion For Its Largest Fund Ever". New York Times Deal Book. Retrieved October 16, 2016. 
  8. ^ Alex Konrad (April 23, 2015). "Why Venture Firm IVP Raised $1.4 Billion For Its Largest Fund Ever". Forbes. Retrieved October 16, 2016. 
  9. ^ Claire Cain Miller (November 11, 2008). "Vacation Rental Site Raises $250 Million". New York Times. 
  10. ^ Claire Cain Miller (February 16, 2009). "Twitter raises $35 million". New York Times. Retrieved October 16, 2016. 
  11. ^ Joseph Galante (March 24, 2009). "Twitter Investor Snaps Up Company Stakes as IPO Markets Freeze" (PDF). Bloomberg.com. Retrieved October 16, 2016. 
  12. ^ Phil Fernandez (November 17, 2010). "Marketo Secures $25 Million in New Financing to Help Customers Drive Revenue Growth". Blog. Retrieved October 16, 2016. 
  13. ^ Oracle press release
  14. ^ Nest press release
  15. ^ OnDeck press release
  16. ^ [1] Press Release
  17. ^ Pure Storage press release
  18. ^ The New York Times, October 15, 2013
  19. ^ IVP Press Release
  20. ^ Adroll press release
  21. ^ General Assembly blog
  22. ^ March 2014
  23. ^ Indiegogo press release
  24. ^ Recode, January 28, 2014
  25. ^ Prosper Marketplace press release
  26. ^ SoundCloud press release
  27. ^ Anomali news
  28. ^ Whipclip press release
  29. ^ Woven Digital press release
  30. ^ xAd press release
  31. ^ The Wrap
  32. ^ Streamdaily, February 26, 2014
  33. ^ Pando, July 7, 2014
  34. ^ [2]. TechCrunch, June 3, 2014
  35. ^ Ziprecruiter blog
  36. ^ AlienVault press release
  37. ^ App Annie news
  38. ^ Casper press release
  39. ^ Compass press release
  40. ^ GitHub press release
  41. ^ NerdWallet blog
  42. ^ Pindrop press release
  43. ^ Slack press release
  44. ^ SoFi press release
  45. ^ Steelbrick press release
  46. ^ Steelbrick blog
  47. ^ Sumo Logic press release
  48. ^ Tanium press release
  49. ^ Vessel blog
  50. ^ Walker & Company Brands press release

External links[edit]

  • IVP (website)