Institutional Venture Partners Closes $1.4 Billion Late Stage Fund

ivpInstitutional Venture Partners (IVP), a Menlo Park, Calif.-based later-stage venture capital and growth equity firm, closed its latest fund at $1.4 billion.

IVP XV is the largest fund raised in the firm’s 35-year history and brings cumulative committed capital to $5.4 billion. It was oversubscribed, with IVP’s existing limited partners contributing the majority of the fund.

Led by General Partners Todd Chaffee, Somesh Dash, Steve Harrick, Eric Liaw, Jules Maltz, Sandy Miller, and Dennis Phelps, the new vehicle plans to invest $10 to $100m per company in both the consumer and enterprise sectors throughout the United States. It will make 12 to 15 investments each year.

Founded in 1980, IVP has invested in over 300 companies and 101 have gone public.  Backed companies include AppDynamics, ArcSight (HPQ), Buddy Media (CRM), ComScore, Datalogix (ORCL), Domo, Dropbox, Dropcam (GOOG), Fleetmatics (FLTX), HomeAway (AWAY), Kayak (PCLN), LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), Omniture (ADBE), OnDeck (ONDK), Prosper, Pure Storage, RetailMeNot (SALE), Shazam, Slack, Snapchat, SoundCloud, Supercell, Synchronoss (SNCR), The Honest Company, Twitter (TWTR), Zenefits, and Zynga (ZNGA).




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