VC-Backed IPOs Rise Infinitely in Q2


Five venture-backed companies went public in the second quarter of 2009, which is an infinite improvement from the prior two quarters’ grand total of zero. Moreover, the $720 million raised by those five companies was the highest quarterly tally since Q4 2007, when 31 VC-backed companies raised $3.04 billion.

Each of the five offerings was trading above its offering price, as of today’s market open, with an average increase of 22.35 percent. Here is your quintet:

DigitalGlobe Inc.
– Commercial high-res earth imagery solutions
– $279.3 million
– Priced at $19, opened trading today at $19.12
– VC backers: Morgan Stanley, Ball Aerospace & Technologies Corp., Hitachi Ltd. and Telespazio SpA/Euimage Investment.

SolarWinds
– Provider of network management software for the SMB/SME market
– $151.45 million
– Priced at $12.5, opened trading today at $15.94
– VC backers: Bain Capital Ventures (31.6% pre-IPO stake), Insight Venture Partners (31.6%) and Austin Ventures (3.4%).

Bridgepoint Education Inc.
– Online and campus universities
– $141.75 million
– Priced at $10.50, opened today at $16.25
– VC backers: Warburg Pincus

MediData Solutions Inc.
– Electronic data capture and data management software for clinical researchers
– $88.20 million
– Priced at $14, opened today at $17
– VC backers: Insight Venture Partners, Milestone Venture Partners, Stonehenge Capital Fund, Greenhill SAVP and Globalnet Partners.

OpenTable Inc.
_ Web-based system for restuarant reservations
– $60 million
– Priced at $20, opened today at $30.04
– VC backers: Benchmark Capital, Impact Venture Partners, Integral Capital Partners, Windspeed Ventures, and direct secondary firm W Capital Partners.

It’s worth noting that the classification of the above companies as “VC-backed” comes from the number-crunchers here at Thomson Reuters and at the National Venture Capital Association. The methodology is consistent over time, but I won’t fight if you argue that Bridgepoint Education is really buyout-backed, while the quarter’s only buyout-backed IPO (Rosetta Stone, backed by ABS Capital) is better described as VC-backed.

Also, you may be wondering why we’re posting this data today, when VC-backed LogMeIn is scheduled to price this evening (June 30). The answer is that the aforementioned methodology uses the first day of trading for IPO dates, which means LogMeIn will likely be counted in the Q3 tally. Once LogMeIn prices, there would be just 10 VC-backed companies remaining in registration to price an IPO.