IVP joins growing list of VCs with San Francisco offices

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Investors and entrepreneurs associated with Institutional Venture Partners are going to have to get used to Greek food. That’s because the late-stage investor has opened an office at the corner of Front and Jackson streets, adjacent to the red brick building that houses the Kokkari Greek restaurant in San Francisco’s Jackson Square neighborhood.

IVP General Partner Dennis Phelps told peHUB the firm opened the office because more entrepreneurial talent and late-stage companies are moving to urban areas like San Francisco.

“We’re seeing a ton of tech talent in the city,” Phelps said. “And if a venture firm is not set up to work with them here in San Francisco, then they’re at a disadvantage.”

Phelps lives in San Francisco, as does IVP General Partner Jules Maltz, who helped bring San Francisco-based Twitter to IVP’s attention. Phelps said the new office will likely be used by all the firm’s partners, whose residences span from Silicon Valley to Marin.

The number of venture firms with offices in San Francisco has swelled in recent years. Benchmark Capital, an investor in Twitter and San Francisco-based Uber, opened an office in 2012 in the Mid-Market area. Index Ventures and Shasta Ventures also have satellite offices in the South of Market Area, while Alsop Louie Partners, The Founders Fund, Homebrew, Hummer Winblad Venture Partners, True Ventures, Sigma West and Next World Capital, among others, call San Francisco home.

Last fall, peHUB affiliate publication VCJ reported on the growing interest firms were showing toward San Francisco. Subscribers can read that story here.

PRESS RELEASE

Institutional Venture Partners Opens New Office in San Francisco

Menlo Park, CA – February 27, 2014 – Institutional Venture Partners (IVP), one of the premier later-stage venture capital and growth equity firms, is pleased to announce that it has opened a satellite office in San Francisco.  The new office is close to the headquarters of numerous IVP portfolio companies, including AppDynamics, Dropbox, Dropcam, Hipmunk, Indiegogo, Klout, One Kings Lane, POPSUGAR, Twitter, Voxer, Wikia, and Zynga.

“It’s critical that we stay close to the best later-stage companies and entrepreneurs,” said Jules Maltz, General Partner at IVP.  “We’ve been meeting with more and more fast-growing startups located in San Francisco, and this office will help us to better serve these companies.”

“San Francisco is booming again, and we are witnessing a migration of young, well-educated technology talent moving into the urban center,” added Dennis Phelps, General Partner at IVP.  “It’s exciting that IVP will be contributing to the continued growth of the San Francisco entrepreneurial community.”

IVP’s new San Francisco office is located at 607 Front Street across from Jackson Square Park.

“As our firm continues to grow, expanding our presence in San Francisco is a logical move for IVP,” continued Todd Chaffee, General Partner at IVP.  “We’ve been fortunate to hire some of the best and brightest people in the industry.  In addition to our main office on Sand Hill Road, this new office will be a great place for our team to meet with the best and brightest entrepreneurs in San Francisco.”

In 2013, IVP had three billion-dollar IPOs with Twitter (TWTR), RetailMeNot (SALE), and Marketo (MKTO).  The firm also began investing IVP XIV, a new $1 billion fund.  As an investor in high profile companies, such as Dropbox, HomeAway, Snapchat, Supercell, and Twitter, IVP remains committed to its focused strategy of supporting rapidly-growing technology and media companies and partnering closely with exceptional management teams.

About Institutional Venture Partners (IVP)
With $4 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.  Founded in 1980, IVP has invested in over 300 companies, 97 of which have gone public.  IVP is one of the top-performing firms in the industry and has a 33-year IRR of 43.2%.  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 (HPQ), Buddy Media (CRM), ComScore (SCOR), Concur Technologies (CNQR), Dropbox, Fleetmatics (FLTX), HomeAway (AWAY), Juniper Networks (JNPR), Kayak (PCLN), LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), ngmoco (DeNA), Polycom (PLCM), Pure Storage, RetailMeNot (SALE), Seagate (STX), Shazam, Snapchat, Supercell, Synchronoss (SNCR), Tivo (TIVO), Twitter (TWTR), and Zynga (ZNGA).  For more information, visit http://ivp.com or follow IVP on Twitter: @ivp.

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