Tuesday, August 31, 2010

Institutional Venture Partners Raises $750M Fund

Menlo Park-based venture capital firm Institutional Venture Partners announced today that it has closed Institutional Venture Partners XIII, at $750M. According to the firm, the later-stage venture capital and growth equity fund will be focused on rapidly growing technology and digital media companies throughout the United States. The new round brings IVP's total, committed capital to $3 billion, and is significantly larger than IVP XII, the firm's 2007 vintage, $600M venture capital fund. IVP is a backer of such firms as Homeaway, Twitter, and Zynga. IVP said that its typical investment from the fund will range from $10M to $50M, and that it will also make venture capital financings worth more than $100M to finance growth, roll-ups, acquisitions, and corporate divestitures.