Institutional Venture Partners

Last updated
IVP
Type Private
Industry Venture capital
Founded1980;43 years ago (1980)
FounderReid Dennis
Headquarters Menlo Park, California, U.S.
AUM $7.0 billion
Number of employees
~30+
Website www.ivp.com

Institutional Venture Partners (IVP) is a US-based venture capital investment firm focusing on later-stage companies and growth equity investments. IVP is one of the oldest venture capital firms, founded in 1980.

Contents

History

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 institutions such as American Express. [1] Burton J. McMurtry and David Marquardt, who had been involved with IVA, left and founded Technology Venture Investors, the first investor in Microsoft. [2] :236 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. [3] The first IVP fund had $22 million. [4] In a field that was generally male-dominated, Ruthann Quindlen became a rare female general partner in 1994. [4] [5] 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 later-stage digital media and Internet companies, [6] and Versant Ventures to focus on health science investments. [7] [2] :307 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. [8] Its fifteenth fund raised $1.4 billion in April 2015. [9] Its sixteenth fund raised $1.5 billion in September 2017. [10]

Industry recognitions

In 2014, AlwaysOn named IVP in its Top 25 VC Firms List. In 2015, GrowthCap [11] named IVP #1 on their Top 25 Growth Equity Firms List. Entrepreneur Magazine named IVP on their VC 100 List. [12] IVP ranked #2 as the Top VC in Mobile by App Portfolio Downloads by Sensor Tower [13] In addition, IVP was listed as one of the Most Active Bay Area VC Firms Ranked by Number of Deals in 2015 by San Francisco Business Times. In 2016, PitchBook [14] ranked IVP #2 as The Most Active VC Investor in the U.S.- based Tech Companies That Have Completed an IPO Since the Beginning of 2011. CB Insights ranked IVP #3 among top investors that are consistently in the top tech exits.[ citation needed ]

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References

  1. Udayan Gupta (2000). "Reid Dennis: Institutional Venture Partners". Done Deals: Venture Capitalists Tell Their Stories. Harvard Business Press. pp.  179–190. ISBN   9780875849386.
  2. 1 2 Chong-Moon Lee (2000). The Silicon Valley Edge: A Habitat for Innovation and Entrepreneurship. Stanford University Press. ISBN   9780804740630.
  3. "San Mateo County History Makers". San Mateo County History Museum. 2013. Retrieved October 16, 2016.
  4. 1 2 Ruthann Quindlen (2000). Confessions of a Venture Capitalist: Inside the High-Stakes World of Start-up Financing. Grand Central Publishing. ISBN   9780446930772.
  5. John Markoff (April 13, 1997). "Seeking the Software Stars of the Future". New York Times. Retrieved October 16, 2016.
  6. Om Malik (September 23, 1999). "Even for VCs, bigger is better". Forbes. Retrieved October 16, 2016.
  7. "Redpoint Ventures on making successful tech investments - Aug. 29, 2000". money.cnn.com. Retrieved 2023-05-26.
  8. Evelyn M. Rusli (June 28, 2012). "Institutional Venture Partners Raises $1 Billion Fund". New York Times Deal Book. Retrieved October 16, 2016.
  9. Alex Konrad (April 23, 2015). "Why Venture Firm IVP Raised $1.4 Billion For Its Largest Fund Ever". Forbes. Retrieved October 16, 2016.
  10. Katie Roof (September 26, 2017). "IVP announces $1.5 billion venture fund". TechCrunch. Retrieved October 16, 2016.
  11. Growth Cap Co List (May 15, 2015)
  12. Entrepreneur (February 19, 2015)
  13. Sensor Tower Awards (June 6, 2016)
  14. Pitchbook Press Release (June 21, 2016)