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IVP closes new USD1.5bn fund

Later stage VC and growth capital firm IVP has closed IVP XVI, a USD1.5 billion fund. This is the largest fund in the firm’s 37-year history and brings cumulative committed capital to USD7 billion.

IVP XVI was significantly oversubscribed, with the firm’s existing Limited Partners contributing the vast majority of the capital.
As an investor in innovative companies such as AppDynamics, Domo, Dropbox, The Honest Company, Slack, Snap, Supercell, Twitter, and ZipRecruiter, IVP remains committed to its focused strategy of supporting innovation at the growth stage and partnering closely with exceptional management teams throughout the United States. Since its inception in 1980, IVP has invested in over 300 companies, of which 106 have gone public.
“The partners at IVP are experienced and thoughtful investors who provide their management teams with consistent coaching and support,” says David Wadhwani, CEO of AppDynamics. “Cisco’s acquisition of AppDynamics earlier this year was an exceptional outcome and a testament to the strong working relationship with our friends at IVP.”
IVP’s Partners include Todd Chaffee, Somesh Dash, Norm Fogelsong, Steve Harrick, Eric Liaw, Jules Maltz, Sandy Miller, and Dennis Phelps, who collectively have more than 150 years of venture capital and operating experience. In addition, Tom Loverro and Roseanne Wincek were recently promoted to Principals at the firm.
“When it came time for Glossier to raise a late stage round, we were fortunate to have many attractive options available to us,” says Emily Weiss, CEO and Founder of Glossier. “We chose IVP to be our lead investor because of their focus on and experience working with hyper-growth start ups on their way to becoming category defining leaders. The IVP team is absolutely one of the best in the business. We look forward to working together for many years to come.”
The Silicon Valley-based firm with offices in Menlo Park and San Francisco specialises in technology and media investments, both enterprise and consumer, and believes that its dedicated industry focus is one of the keys to its long-term success. With the new fund, IVP plans to invest in 35-40 companies, in amounts ranging from USD10 to USD100 million per company.
“IVP’s multi-generational team has consistently delivered through several investment cycles,” says Robert Morgan, Managing Director of 50 South Capital Advisors, LLC, a wholly owned subsidiary of Northern Trust Corporation. “I continue to be impressed with the firm’s accelerating momentum and prominent position in the venture industry.”

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