Institutional Venture Partners
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| Private | |
| Industry | Venture Capital |
| Founded | 1980 |
| Founder | Reid Dennis |
| Headquarters |
Sand Hill Road Menlo Park, California |
| Total assets | $4.0 billion |
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Number of employees
|
~30+ |
| Website | www |
Institutional Venture Partners (IVP) is a US-based private equity investment firm focusing on later-stage venture capital and growth equity investments. IVP is one of the oldest venture capital firms on Sand Hill Road founded in 1980.
While Reid W. Dennis was an analyst at the Fireman's Fund Insurance Company starting in 1952, he started an informal network of screened individual investors (now called angel investors). In 1974, Dennis founded Institutional Venture Associates (IVA), funded by six six institutions such as American Express. Burton J. McMurtry and David Marquardt, who had been involved with IVA, left and founded Technology Venture Investors, the first investor in Microsoft. These were some of the first venture capital firms located on Sand Hill Road near Stanford University, within Silicon Valley. With his personal wealth and that of other partners, Dennis founded Institutional Venture Partners in 1980. The first IVP fund had $2.2 million. In a field that was generally male-dominated, Ruthann Quindlen became a rare female general partner in 1994. After the burst of the dot-com bubble in 1999, partners from IVP combined with Brentwood Venture Capital formed Redpoint Ventures, which would specialize in digital media and Internet companies, and Palladium Venture Capital to focus on health science investments.
IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. It only makes a small number (about 12 to 15) relatively large investments per year. Its fourteenth fund raised about $1 billion in June 2012. Its fifteenth fund raised $1.4 billion in April 2015.
Early investments included ArcSight, Akamai Technologies, AppDynamics, Ask Jeeves, Business.com, Care.com, ComScore, Concur Technologies, Danger, Digital River, Dropbox, Foundry Networks, HomeAway,Juniper Networks, Kayak.com, LegalZoom, LifeLock, LSI Corporation, Marketo, MySQL, Netflix, ngmoco, Polycom, Quigo, RetailMeNot, Seagate Technology, Shazam, Spiceworks, TiVo, Websense, Zynga and Voxer.
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