Institutional Venture Partners Closes $600 Million Fund

“Institutional Venture Partners (IVP), one of the nation’s top performing venture capital firms, announced today the closing of IVP XII, a $600 million later-stage venture capital fund. This fund brings the firm’s cumulative committed capital to more than $2.2 billion. IVP XII is the largest fund raised in IVP’s twenty-six year history. The fund will continue IVP’s successful investment strategy of investing in rapidly growing later-stage technology companies in the United States. ‘Our later-stage investment strategy has worked well in both IVP X and IVP XI,” said Todd Chaffee, a general partner of IVP. “Market leading technology companies need more growth capital to stay competitive these days, and our deal flow has never been stronger.’ With IVP XII, the firm will invest in three target sectors: Communications and Wireless, Internet and Digital Media, and Enterprise IT companies. Typical investments will range in size from $10 million to $30 million. In addition, the firm intends to continue its strategy of acting as the lead investor in large venture capital financings above $100 million.”