Menlo Park, Calif. – Institutional Venture Partners (IVP), a
venture capital firm specializing in late-stage and growth equity investments,
announced on Tuesday that it has closed a new $750 million fund.
The IVP XIII
fund, which brings the total raised by the firm to $3 billion, will
"continue IVP’s successful strategy of investing in rapidly-growing
technology and digital media companies throughout the United States."
firm’s last oversubscribed fund in 2007 totaled $600 million.
IVP said it will
focus on three target investment sectors — Internet and digital media;
communications and wireless; and enterprise IT — with typical investments to
range from $10 million to $50 million.
"In addition, the firm intends to
continue its strategy of acting as the lead investor in venture capital
financings above $100 million, often to finance growth, roll-ups, acquisitions
and corporate divestitures," said Steve Harrick, general partner at IVP.