PE Tech Report


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2011 a record year for new investments at Millennium

Millennium Technology Value Partners completed a record year of capital deployment in 2011, continuing its focus on investing in many of the world’s leading private technology companies.

Millennium disclosed 18 portfolio companies receiving new or follow-on investment in the last 18 months. These include: Chegg, Twitter, Good Technology, Tumblr, BeachMint, IronPlanet, ETF Securities, Tremor, Acronis, HootSuite, Yodle, MarkLogic, Reply! LegalZoom, Envivio, PlaySpan (acquired by Visa), HauteLook (acquired by Nordstrom), and Ning (acquired by Glam).

Sam Schwerin (pictured), Millennium Managing Partner, says: "Given the burgeoning interest in the kind of shareholder liquidity solutions and flexible financing formats at the core of Millennium’s strategy, 2012 is shaping up as another very strong year for new investments. Many leading companies recognise that the next several quarters may not be propitious for previously contemplated IPOs and, as a result, quite a few are turning to Millennium for our thoughts on alternative liquidity. The ongoing macroeconomic challenges and uncertain capital markets environment, coupled with the increasing tendency by the strongest companies to remain private longer, continue to provide fertile conditions for the Millennium strategy.

"Millennium increasingly serves as a trusted capital partner to our portfolio companies, providing a customized combination of growth capital, debt financing, and programmatic shareholder liquidity as needed over the life-cycle of a given company. We continue to support our companies by investing in their IPOs and even post-IPO. Millennium is committed to developing creative, flexible, fast-moving, and consistent partnerships to meet the evolving needs of technology companies."

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