Menlo Park, CA – December 16, 2013 – During 2013, Institutional Venture Partners (IVP), one of the premier later-stage venture capital and growth equity firms, welcomed the IPOs of Marketo (MKTO), RetailMeNot (SALE), and Twitter (TWTR), and distributed over $500 million in capital back to its Limited Partners. IVP now has eight companies in its portfolio that have publicly-traded market capitalizations in excess of $1 billion. The firm also began investing IVP XIV, a new $1 billion fund, and publicly announced ten new investments. As an investor in innovative companies, such as AppDynamics, 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.
IPOs in 2013:
- Twitter (TWTR), a global platform for public self-expression and real-time collaborative conversation, went public in November with a market capitalization of $31.2 billion. IVP made its initial investment in Twitter in February 2009.
- RetailMeNot (SALE), operator of the world’s largest digital coupon marketplace, went public in July with a market capitalization of $1.4 billion. IVP made its initial investment in RetailMeNot in October 2011.
- Marketo (MKTO), a leading provider of cloud-based marketing solutions for building and sustaining customer relationships, went public in May with a market capitalization of $1.0 billion. IVP made its initial investment in Marketo in November 2010.
IVP Investments Announced in 2013:
- AppDynamics, a next-generation Application Performance Management (APM) solution focused on simplifying the management of complex cloud-based software applications.
- Ayasdi, a pioneer in developing a new approach for enterprises to discover and gain operational insights from massive online data systems.
- Datalogix, a big data company connecting online advertising with offline sales.
- Dataminr, an information discovery company enabling real-time, data-driven decisions for enterprises.
- Dropcam, an award-winning cloud-based Wi-Fi video monitoring service with live streaming, two-way communication, and remote viewing capabilities.
- OnDeck, a technology-powered lender serving Main Street small businesses.
- Pure Storage, a leading enterprise flash storage array company.
- Snapchat, a smartphone-based social photo messaging company.
- Supercell, a leading “tablet first” gaming company with two of the top social/mobile games. Subsequent to IVP’s investment, Softbank and GungHo acquired a 51% interest in Supercell in October at a $3.1 billion valuation.
- TuneIn, the world’s leading online service for listening to live radio programming.
Industry Recognition
In 2013, three of 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 addition, AlwaysOn recognized Todd Chaffee, Norm Fogelsong, Steve Harrick, and Sandy Miller as “2013 Power Players in the Cloud,” Norm Fogelsong and Eric Liaw as “2013 Mobile Power Players,” and Norm Fogelsong as a “2013 Power Player in Digital Media.”
IVP has six general partners and eight additional investment professionals focused on identifying later-stage growth companies in the consumer and enterprise sectors, and the firm is one of the top performing firms in the venture capital industry. IVP typically serves as a lead investor in expansion-stage rounds with investment sizes ranging from $10-100 million.
Promotions and New Hires
IVP’s success in 2013 coincided with several important promotions and new hires during the year. James Newell, a former Senior Associate who recently completed the MBA program at the Wharton School at the University of Pennsylvania, returned to IVP as a Vice President. In addition, Chris Esqueda was promoted to Vice President of Finance, Andrew Barr was promoted to Senior Associate, and Jordan Kong joined the firm as an Associate.
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, 96 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 (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 https://www.ipv.com or follow IVP on Twitter: @ivp.