Venture capital firms racked up some big exits and big IPOs in the first quarter of 2012—and that is just the appetizer. It was the asset class’s best quarter for IPOs since the beginning of 2007.
Nineteen VC-backed companies went public in the first quarter of 2012, according to data compiled by the National Venture Capital Association and Thomson Reuters, and another 86 M&A deals for VC-backed companies were reported in a robust quarter on the exit front. Among highlights were ExactTarget’s $161 million IPO, Merrimack Pharma making for a life sciences success story, and Groupon—beset with more reporting woes—snapping up another six companies. Here are the some of the biggest transactions to be announced or closed and the top IPOs.
Late last month, ExactTarget priced its IPO at $19 each, raising $161.5 million, and since then, it has traded well—boosting up to $26 per share before Monday morning’s open. The email marketing software firm has already generated some impressive returns for VCs, including Greenspring Associates, Scale Venture Partners, Montagu Newhall Associates and Insight Venture Partners, which invested nearly $200 million across several rounds.