Menlo Park, CA – December 20, 2011 – Institutional Venture Partners (IVP), one of the premier later-stage venture capital and growth equity firms, welcomed the IPOs of Zynga (ZNGA), HomeAway (AWAY), and Carbonite (CARB) and announced 12 new investments in 2011. IVP, which has backed innovative companies such as Dropbox, HomeAway, LivingSocial, Twitter, and Zynga, remains committed to its focused strategy of investing in rapidly-growing technology and media companies and partnering with exceptional management teams.
IVP Had Three IPOs in 2011:
- Zynga (ZNGA) went public in December with a market capitalization of $8.9 billion, including stock options. IVP made its initial investment in Zynga in July 2008.
- HomeAway (AWAY) went public in June with a market capitalization of $2.2 billion. IVP made its initial investment in HomeAway in November 2006 and continued to invest in subsequent rounds.
- Carbonite (CARB) went public in August with a market capitalization of $240 million. IVP initially invested in Carbonite in January 2011 and also invested in the public offering.
IVP Had Two M&A Events in 2011:
- Tripwire, a global leader in IT Security and Compliance Automation solutions, was acquired by Thoma Bravo in May.
- Aster Data, a market leader and pioneer in advanced analytics and unstructured data management, was acquired by Teradata Corporation (TDC) in March.
IVP Announced 12 New Investments in 2011:
- Business Insider, a leading digital news provider focused on Wall Street, technology, and other popular business verticals.
- Carbonite, a leading provider of online backup solutions for consumers and small and medium sized businesses.
- Clearspring Technologies, a provider of the largest social sharing and analytics platform, AddThis.
- ConnectAndSell, a provider of on-demand telephone conversations with prospects and customers.
- Dropbox, a free service that lets people bring their documents, photos, and videos everywhere and share them easily.
- LegalZoom.com, the leading provider of online legal documentation services and legal plans for individuals and small businesses.
- LivingSocial, an online local commerce company that provides local deals and new experiences to members around the world.
- One Kings Lane, an e-commerce site dedicated to home furnishings, decor, accessories, and gifts.
- Personal Capital, a next-generation asset management platform and financial advisor.
- Shazam, the world’s leading mobile discovery company.
- Sugar Inc, a leading online media and e-commerce company targeting trendsetting women.
- WhaleShark Media, the world’s largest marketplace for online coupons, promotional codes, and deals.
Promotions and New Hires
Recognizing that success begins with a strong team, IVP made a number of promotions and new hires during the year. Jules Maltz was promoted to General Partner. In addition, IVP added Eric Liaw as Vice President and Andrew Barr as an Associate to its investment team.
IVP’s General Partners Todd Chaffee and Sandy Miller were named to the prestigious Forbes Midas List of the Top 100 Tech Investors in 2011. AlwaysOn named IVP’s General Partners Todd Chaffee, Steve Harrick, and Sandy Miller to its 2011 Power Players West list, honoring the most influential people who support entrepreneurs.
IVP has six general partners and five active investment professionals focused on identifying later-stage growth companies in the Internet & Digital Media, Enterprise IT, and Mobile & Communications sectors. In 2012, the firm will continue to pursue additional investments in rapidly-growing technology companies.
About Institutional Venture Partners (IVP)
With $3 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. The partnership is currently investing IVP XIII, a $750 million later-stage fund focused on investments in rapidly growing technology and media companies. Founded in 1980, IVP has invested in over 300 companies, 89 of which have gone public. IVP is one of the top performing firms in the industry and has a 30 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), Aspect Communications, ComScore (SCOR), Concur Technologies (CNQR), Digital River (DRIV), Dropbox, HomeAway (AWAY), Juniper Networks (JNPR), Kayak, LegalZoom, LivingSocial, MySQL (ORCL), Netflix (NFLX), Polycom (PLCM), Seagate (STX), Shazam, Synchronoss (SNCR), Tivo (TIVO), Twitter, and Zynga (ZNGA). For more information, visit https://www.ivp.com or follow IVP on Twitter at @ivp.