IVP announces $1.5b fund for investment in 40 late-stage companies

The VC firm is looking to invest between $10 million and $100 million in 35 to 40 late-stage companies through its latest fund.

Institutional Venture Partners (IVP), a Menlo Park, California-based venture capital firm, has announced raising $1.5 billion to invest in 35 to 40 late-stage technology companies in amounts ranging from $10 million to $100 million per company.

The VC firm said the IVP XVI fund is the largest in its history; the last fund raised was $1.4 billion back in 2015.

IVP XII brings its total committed capital to $7 billion, with the company having previously backed more than 300 technology companies since its inception in 1980, including Cisco-owned AppDynamics, Dropbox, Netflix, Slack, Snap, SoftBank's Supercell, and Twitter.

"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," David Wadhwani, CEO at AppDynamics, said in a statement.

IVP said it plans to invest in 12 to 16 high-growth technology companies every year over 10 years. While the company has not explicitly specified what industry it is interested in, it did say that it won't invest in China, India, cleantech, and biotech.

"We specialise in helping address the unique needs of hyper-growth companies, including assistance with recruiting, strategy, product development, and scaling operations," IVP said in a blog post.

"We strive to be the experienced and trusted counsel for our CEOs as they wrestle with important decisions, such as equity financings, securing debt, evaluating M&A offers, and prepping for an IPO. We deliver on this and then move out of the way ... fundraising is just a milestone, not the ultimate goal."

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