SOURCE: IVP

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December 17, 2015 12:00 ET

IVP Concludes Successful Year

Raises $1.4 Billion Fund XV and Announces 14 New Investments

MENLO PARK, CA--(Marketwired - December 17, 2015) - During 2015, IVP raised a new $1.4 billion fund and distributed over $500 million in capital back to its Limited Partners, including the proceeds from three significant M&A transactions: Business Insider (Axel Springer), Datalogix (ORCL), and Supercell (SoftBank). In addition, the partnership reached a milestone of 103 portfolio company IPOs with MINDBODY (MB) and Pure Storage (PSTG) entering the public markets. IVP also announced 14 new investments as the firm continues to actively invest in high growth enterprise and consumer technology companies.

As a partner investor in innovative companies, such as AppDynamics, Domo, Dropbox, The Honest Company, Snapchat, Supercell, and Twitter, IVP remains committed to its focused strategy of supporting innovation at the later-stage and partnering closely with exceptional management teams.

$1.4 Billion Later-Stage Venture Capital and Growth Equity Fund

In April, IVP announced the closing of IVP XV, a $1.4 billion later-stage venture capital and growth equity fund. The new fund follows the recent success of IVP XII, a $600 million fund formed in 2007, IVP XIII, a $750 million fund formed in 2010, and IVP XIV, a $1 billion fund formed in 2012. Similar to prior funds, IVP XV was significantly oversubscribed. IVP XV is the largest fund raised in the firm's 35-year history and brings IVP's cumulative committed capital to $5.4 billion.

IPOs in 2015:

  • MINDBODY (MB), the leading provider of cloud-based business management software for the wellness services industry, went public in June. IVP made its initial investment in MINDBODY in October 2012. MINDBODY was the 102nd IPO in IVP's history.
  • Pure Storage (PSTG), the market's leading independent solid-state array vendor, went public in October. IVP made its initial investment in Pure Storage in September 2013. Pure Storage was the 103rd IPO in IVP's history.

Significant M&A Exits in 2015:

  • Datalogix, an innovative data services business connecting digital media and offline purchasing data, was acquired by Oracle (ORCL) for $1.2 billion in January. IVP made its initial investment in Datalogix in April 2013.
  • Supercell, a global leader in mobile gaming, sold its remaining investors' equity position to SoftBank in May. IVP made its initial investment in Supercell in February 2013.
  • Business Insider, a rapidly growing digital news provider focused on Wall Street, Technology, and other popular business verticals, was acquired by Axel Springer for $442 million in September. IVP made its initial investment in Business Insider in September 2011.

IVP Investments Announced in 2015:

  • AlienVault, a leading provider of Unified Security Management and crowd-sourced threat intelligence
  • App Annie, a decision-making platform for the mobile app economy
  • Casper, a next-generation retailer with a direct-to-consumer model for high-end mattresses, pillows, sheets, and other sleep-related products
  • Compass, a technology-driven real estate platform, combining exceptional agents with best-in-class technology
  • GitHub, the world's largest collaborative software development community
  • NerdWallet, a financial technology startup that provides consumers with additional clarity around key financial decisions at every stage of their lives
  • Pindrop, a pioneer in phone fraud prevention and call center authentication
  • Slack, a business-focused messaging platform for teams which unites communication and collaboration
  • SoFi, a leader in marketplace lending
  • SteelBrick, the fast-growing provider of next-generation quote-to-cash software applications built on the Salesforce platform
  • Sumo Logic, a leading purpose-built, cloud-based, machine data analytics service
  • Tanium, an endpoint management company redefining security and systems management
  • Vessel, a next generation video platform targeting premium short-form content
  • Walker & Company Brands, an online retailer making health and beauty simple for people of color

Industry Recognition

In 2015, three of IVP's General Partners - Todd Chaffee, Sandy Miller, and Dennis Phelps - were named to the prestigious Forbes Midas List of the Top 100 Tech Investors. Todd has been included on all the Midas Lists since 2009. Sandy is one of only eight venture capitalists who have been on all the Midas Lists since 2007. Dennis returned for the second time to the Midas List. GrowthCap named IVP #1 on their Top 25 Growth Equity Firms List and named Jules Maltz #2 on the GrowthCap Top 40 Under 40 Growth Investors List, which highlights exceptional private capital investors in the growth segment. Entrepreneur Magazine named IVP on their VC 100 List. In addition, AlwaysOn recognized IVP's General Partners, Steve Harrick, Eric Liaw, Jules Maltz, Sandy Miller, and Dennis Phelps in AlwaysOn 2015 Power Players in FinTech List.

IVP has eight partners and six additional investment professionals focused on identifying later-stage growth companies in the consumer and enterprise sectors. IVP is one of the top performing firms in the venture capital industry, typically serving as a lead investor in later-stage rounds with equity investments ranging from $10 to $100 million.

Promotions and New Hires

Throughout its history, IVP has helped hundreds of businesses scale and achieve long-term value. The IVP partnership has worked closely together for over ten years with a consistent focus on later-stage investing.

IVP's success in 2015 coincided with several important promotions and new hires during the year. Somesh Dash and Eric Liaw were promoted to General Partners in recognition of their contributions to the firm and highlight IVP's continued emphasis on strengthening its investment team. In addition, the firm hired Tracy Hogan, the former Chief Financial Officer and Chief Compliance Officer of Elevation Partners, as its Chief Financial Officer. Tom Loverro and Roseanne Wincek joined IVP as Vice Presidents, and Michael Giampapa, Louise Ireland, and Alexander Lim joined the firm as Associates.

In 2016, the firm will continue its efforts to drive existing portfolio companies to achieve success at scale while pursuing additional investments in rapidly-growing technology companies.

About IVP

With $5.4 billion of committed capital, IVP is one of the premier later-stage venture capital and growth equity firms in the United States. Founded in 1980, IVP has invested in over 300 companies and 103 have gone public. IVP is one of the top-performing firms in the industry and has a 34-year IRR of 43.2%. IVP specializes in venture growth investments, industry rollups, founder liquidity transactions, and select public market investments. IVP investments include such notable companies as AppDynamics, Business Insider (Axel Springer), Buddy Media (CRM), Datalogix (ORCL), Domo, Dropbox, Dropcam (GOOG), Fleetmatics (FLTX), GitHub, HomeAway (AWAY), The Honest Company, Kayak (PCLN), Klarna, LegalZoom, LifeLock (LOCK), Marketo (MKTO), MySQL (ORCL), Netflix (NFLX), Omniture (ADBE), OnDeck (ONDK), Prosper, Pure Storage (PSTG), Shazam, Slack, Snapchat, SoFi, SoundCloud, Supercell (SoftBank), Synchronoss (SNCR), Tanium, Twitter (TWTR), Zenefits, and Zynga (ZNGA). For more information, visit www.ivp.com or follow IVP on Twitter: @ivp.

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