Institutional Venture Partners said it made 13 new investments in 2012 and had four IPOs, including KAYAK and CafePress. The firm also had two M&A exits, including Buddy Media. IVP released the annual tally in a press release.
IVP Concludes Successful Year – Raises $1 Billion IVP XIV Fund and Leads 13 New Investments
Menlo Park, CA – December 18, 2012 – Institutional Venture Partners (IVP), one of the premier later-stage venture capital and growth equity firms, raised a new $1 billion fund in 2012, had four IPOs, including CafePress (PRSS), Fleetmatics (FLTX), KAYAK (KYAK), and LifeLock (LOCK), two significant M&A events, including Buddy Media (CRM) and MarkMonitor (TRI), and also announced 13 new investments. IVP, an investor in innovative companies such as Dropbox, HomeAway, Twitter, and Zynga, remains committed to its focused strategy of investing in rapidly-growing technology and media companies, and partnering closely with exceptional management teams.
$1 Billion Later-Stage Venture Capital and Growth Equity Fund
In June, IVP announced the closing of Institutional Venture Partners XIV, a $1 billion later-stage venture capital and growth equity fund. The new fund follows the recent success of IVP XII, a $600 million fund formed in 2007, and IVP XIII, a $750 million fund formed in 2010. Like the prior funds, IVP XIV was significantly oversubscribed and affirmed limited partner support for IVP’s focused strategy and experienced team. IVP XIV is the largest fund raised in the firm’s 32-year history and brings IVP’s cumulative committed capital to $4 billion.
IPOs in 2012:
§ CafePress (PRSS) went public in March with a market capitalization of $323 million. IVP made its initial investment in CafePress in September 2007.
§ KAYAK (KYAK) went public in July with a market capitalization of $1.25 billion. KAYAK announced in November that it will be acquired by Priceline (PCLN) for $1.8 billion. IVP made its initial investment in KAYAK in March 2010.
§ LifeLock (LOCK) went public in October with a market capitalization of $722 million. IVP made its initial investment in LifeLock in March 2012.
§ Fleetmatics (FLTX) went public in October with a market capitalization of $768 million. IVP made its initial investment in Fleetmatics in November 2010.
Significant M&A Events in 2012:
§ Buddy Media, the world’s leading social media marketing platform, was acquired by Salesforce (CRM) for $745 million in June. IVP made its initial investment in Buddy Media in October 2010.
§ MarkMonitor, a global leader in online brand protection, was acquired by Thomson Reuters (TRI) in July. IVP made its initial investment in MarkMonitor in December 2003.
IVP Announced 13 New Investments in 2012:
§ Aerohive, cloud-enabled enterprise WiFi.
§ Care.com, the world’s largest online care destination.
§ Domo, a cloud-based executive management platform.
§ Eucalyptus, on-premise cloud computing platform.
§ Hipmunk, the travel site taking the agony out of travel planning.
§ Inspirato, a private, members-only luxury vacation club.
§ Klout, the standard for online and Internet influence.
§ Lifelock, an industry leader in proactive identity theft protection.
§ Mindbody, online business management software for the health and wellness industry.
§ MobileIron, security and management for mobile apps, content, and devices.
§ The Honest Company, non-toxic and natural baby and family products online.
§ Voxer, an enterprise class voice messaging application for smartphones.
§ Wikia, a trusted collaborative media platform.
Promotions and New Hires
IVP’s success in 2012 resulted in several important promotions and new hires during the year. Somesh Dash and Eric Liaw were each promoted to Principal, Gina Bauman was promoted to Vice President of Marketing, and Daniel Barney was promoted to Senior Associate. In addition, IVP added two new Associates, Kelly O’Kane and Parsa Saljoughian, to its investment team.
IVP’s General Partners Todd Chaffee, Steve Harrick, and Sandy Miller were named to the prestigious Forbes Midas List of the Top 100 Tech Investors in 2012. In addition, Todd Chaffee was also included in the Forbes Midas List Top Ten Founder VCs. AlwaysOn recognized IVP General Partner, Jules Maltz, in its 2012 Venture Capital 100 List. AlwaysOn also recognized Todd Chaffee, Steve Harrick, and Sandy Miller as 2012 Power Players in the Cloud, and Norm Fogelsong as a Mobile Power Player, for 2012.
IVP has six general partners and six active investment professionals, focused on identifying later-stage growth companies in the Internet & Digital Media, Enterprise IT, and Mobile & Communications sectors. In 2013, the firm will continue its efforts to help existing portfolio companies to succeed and will pursue additional investments in rapidly-growing technology companies.
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, 93 of which have gone public. IVP is one of the top performing firms in the industry and has a 32-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 (KYAK), LegalZoom, LifeLock (LOCK), Marketo, MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate (STX), Shazam, Synchronoss (SNCR), Tivo (TIVO), Twitter, and Zynga (ZNGA). For more information, visithttp://www.ivp.com or follow IVP on Twitter: @ivp