3Par Inc., a Fremont, Calif.-based provider of utility storage solutions, has set its IPO terms to 7.5 million common shares being offered at between $11 and $13 per share. It would have an initial market cap of approximately $780 million, were it to price at the high end of its range. The company plans to trade on the Nasdaq or the NYSE, with Goldman Sachs and Credit Suisse serving as co-lead underwriters.
3Par has raised around $185 million in total VC funding since its 1999 inception, from firms like Mayfield fund (19.52% pre-IPO stake), Menlo Ventures (17.74%), Worldview Technology Partners (15.02%), Integral Capital Partners and Van Wagoner Capital Management. www.3par.com