Twitter幕后投資公司IVP融資10億
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????著名風投機構IVP（Institutional Venture Partners）是一家專注于技術市場后期的風投公司。今天公司宣布，為其14期基金募得10億美元。短短兩年前，它剛剛募得7.5億美元。 ????這個消息沒什么讓人驚訝的，因為此前媒體已經廣泛報道過“10億美元”這個募資目標。據我猜測，此次募資規模之所以有所擴大，是為了幫IVP度過兩筆募資之間的三年空白期。盡管公司合伙人斯蒂夫?哈里克坦承，由于Facebook和社交游戲公司Zynga（IVP投資組合中的一家）這些公司上市后表現欠佳以及其它一些原因，公司所投資公司的后期市值開始顯得有些“疲軟”。如果這種疲軟持續下去，可能IVP就不能那么隨心所欲地用這10億美元來進行投資活動了。 ????或者，更有可能出現的情況是，由于業界對云計算概念的追捧，以及對移動設備所需軟件的需求與日俱增，IVP將把投資重心更多地放在企業而非消費領域。此前，IVP曾將其7.5億美元基金中超過一半多一點的資金投在了消費領域身上，但哈里克透露，這一次他們可能會將這個比例顛倒過來。 ????最后，哈里克闡述了IVP為何一般不怎么參與G類系列（Series G-type）的上市前融資：“我們不認為投資對象越多越好，而且我們相信，通過IPO套利是一種難度很大的風險投資退出方式。” ????IVP投資組合中的公司包括Twitter，LegalZoom和Buddy Media（該公司已經被SalesForce公司以6.89億美元收購）。 ????譯者：清遠 |
????Institutional Venture Partners, a later-stage VC firm focused on the tech market, today announced that it has raised $1 billion for its fourteenth fund. This comes on the heels of a $750 million vehicle IVP raised just two years ago. ????No real surprise here, as the $1 billion target had been widely reported. And I guess the size increase is to help IVP go three years between funds, although partner Steve Harrick acknowledges that there has been some "softening" of later-stage valuations based, in part, on the lackluster public performance of companies like Facebook and (IVP portfolio company) Zynga. If such softening persists, perhaps IVP won't be able to put its $1 billion to work as easily. ????Or, more likely, it will focus a bit more on the enterprise side than the consumer side, given all the cloud chaos and mobile software needs. IVP spent a bit more than half of its $750 million fund on consumer, but Harrick acknowledges that it may well flip this time around. ????Finally, a quote from Harrick on why the firm typically doesn't participate in Series G-type pre-IPO rounds very often: "We do not collect logos, and our belief is that IPO arbitrage is a very difficult way to play this game." ????IVP portfolio companies include Twitter, LegalZoom and Buddy Media (being acquired by SalesForce for $689m). |
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