Sierra Ventures

Last updated
Sierra Ventures
Company type Private
Industry Venture Capital
Founded1982;42 years ago (1982)
FounderPeter Wendell
Headquarters
San Mateo, California
,
United States
Key people
Mark Fernandes (Managing Director), Tim Guleri (Managing Director), Ben Yu (Managing Director)
ServicesEarly stage investment
Website www.sierraventures.com

Sierra Ventures is an American venture capital firm based in San Mateo, California. It targets startups in sectors including enterprise tech, artificial intelligence, cybersecurity and healthcare. [1]

Contents

Sierra Ventures’ CXO Advisory Board is composed of more than seventy-five Fortune 1000 CIOs, CTOs, CMOs, and CISOs and has advised portfolio companies since 2006. [2] [3]

History

The firm was founded by Peter Wendell in 1982 in Menlo Park, California. [4] [5] Early investments included Healtheon, Intuit, Micromuse, and StrataCom. [4]

The firm is run by managing directors Mark Fernandes, Tim Guleri, and Ben Yu and is based in San Mateo, California. [6] In 2024, the firm added a 4th managing partner, Shashank Saxena. [7]

Investments

As of 2024, Sierra Ventures had invested over $2 billion. [8] [9] The firm focuses on Seed and Series A-stage companies with a typical investment between $1 and $3.5 million for seed and $4 and $8 million for a Series A. [10] [11]

Sierra Ventures’ CXO Advisory Board, a group of Global 1000 Chief Information, Technology, Data, Security, and other technology focused Officers and IT executives, advises on the firm's strategic investment decisions. [2] The board also counsels portfolio companies on how to scale and adapt as necessary. [12]

Sierra Ventures is currently investing out of its thirteenth fund, which is focused on early-stage software startups and closed in 2023 with $265 million. The firm's previous two funds closed at $215 million and $170 million. [13] [14]

Some notable past investments include:

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References

  1. ↑ Vartabedian, Marc (November 7, 2018). "Sierra Ventures Raises $265 Million to Continue 'Right-Sized Fund' Approach". The Wall Street Journal. Retrieved September 12, 2023.
  2. 1 2 High, Peter (22 July 2019). "As Sierra Ventures Announces 12th Fund, MD Mark Fernandes Offers A Look Inside The Firm". Forbes. Retrieved 27 July 2019.
  3. ↑ "Sierra Ventures Raises $265M Fund XIII". FinSMEs. Retrieved 2024-05-01.
  4. 1 2 3 Young, Susan (1 October 2001). "New Economy Notables: Peter C. Wendell". HBS Alumni. Retrieved 15 July 2019.
  5. ↑ Clark, Meaghan (3 November 2013). "21 Stanford professors who could be your biggest startup investor". The Stanford Daily . Retrieved 15 July 2019.
  6. 1 2 3 Loizos, Connie (7 January 2016). "Sierra Ventures Closes 11th Fund With $170 Million". TechCrunch . Retrieved 31 July 2019.
  7. ↑ Breymeyer, Natalie. "Monthly people move spotlight: Shashank Saxena named managing partner at Sierra Ventures". Axios. Retrieved 2024-05-10.
  8. ↑
  9. ↑ Yu, Ben (31 March 2019). "The convergence of 5G and AI: A venture capitalist's view". VentureBeat . Retrieved 15 July 2019.
  10. ↑ "Investing in Early-Stage Excellence". Sierra Ventures. Retrieved 2024-05-01.
  11. ↑ "Company Overview of Sierra Ventures". Bloomberg. Retrieved 15 July 2019.
  12. ↑ Gage, Deborah (23 August 2013). "Sierra Ventures' New Partner Taps Tough Startup Experience". The Wall Street Journal . Retrieved 15 July 2019.
  13. ↑ "Sierra Ventures Raises $265 Million to Continue 'Right-Sized Fund' Approach". WSJ.
  14. ↑ |title=Sierra Ventures seeks $175 mln for 12th flagship fund |url=https://www.pehub.com/vc-journal/sierra-ventures-seeks-175-mln-for-12th-flagship-fund/ |accessdate=15 July 2017 |publisher=Venture Capital Journal |date=21 March 2019}}
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