USVP raises USD340m early-stage VC fund

US Venture Partners (USVP), an early-stage venture capital firm, has closed USVP XII, a USD340 million fund which will continue the firm’s strategy of building leading companies in cybersecurity, enterprise software, consumer and healthcare. 

USVP XII follows USVP XI, a successful USD300 million fund that is now fully invested.

USVP has led investments in 88 companies that completed initial public offerings and 85 more that were profitably acquired. 

“With USVP XII, we are pleased to continue building on our extensive track record of successful early-stage VC investing,” says Rick Lewis, General Partner. “In addition to a multi-decade track record of success, USVP has demonstrated exceptionally strong performance in recent years. In the last three years, USVP portfolio company exits have generated USD933 million in proceeds to USVP funds. Over the past decade, USVP has distributed over USD2B to our investors. And 2019 was the eighth consecutive year that USVP distributions to limited partners exceeded called capital.”

USVP’s strategy is to be the lead Series A investor in companies based in the US or Israel in four core sectors: cybersecurity, enterprise software, consumer and healthcare – including the emerging digital health sector. 

“USVP is a proven leader in our areas of focus. USVP companies like Inspire Medical Systems, ThreatMetrix, Box, HotelTonight, Pluto TV and Omada Health are all leading companies in massive global markets,” says Steve Krausz, General Partner. “Our team has achieved strong results by investing in proven entrepreneurs leading companies in the early stages of development, in sectors where the USVP team has deep domain expertise. We have been fortunate that many of those companies have gone on to become the undisputed leaders in their industries and markets. And we continue to innovate within our firm to assure we are at the leading edge to meet the rapid pace of change in technology.”

The USVP XII investment team is an experienced group of six partners – Steve Krausz, Rick Lewis, Jonathan Root, Casey Tansey, Dafina Toncheva and Jacques Benkoski – with a nearly 3X track record on realisations across USVP’s three most recent fully-invested funds. 

“All of the USVP partners have operating experience and a strong venture investment track record in their investment sectors,” says Casey Tansey, General Partner. “The USVP team, strategy and results enable us to attract world class entrepreneurs. Our experience allows the USVP team to be true company-building partners to our management teams, as they seek to transform and create leading global industries. We deeply respect the entrepreneurs with whom we work. We are also proud and honoured to have earned the confidence of the sophisticated Limited Partners in the US and around the world who have invested in our new fund, USVP XII.”