Later-stage growth equity and venture capital firm Institutional Venture Partners has launched a San Francisco satellite office to bring it closer to some of the most exciting startups in the US.
IVP scored returns from a trio of $1bn-plus IPOs last year through the public listings of Twitter, RetailMeNot and Marketo, and is currently looking for new targets using its similarly-sized fourteenth fund.
The firm pointed out that its new office was also near the headquarters of its current portfolio companies including Dropbox, Klout and Zynga.
IVP general partner Dennis Phelps said, “San Francisco is booming again, and we are witnessing a migration of young, well-educated technology talent moving into the urban center.
“It’s exciting that IVP will be contributing to the continued growth of the San Francisco entrepreneurial community.”
Fellow general partner Jules Maltz added, “It’s critical that we stay close to the best later-stage companies and entrepreneurs.
“We’ve been meeting with more and more fast-growing startups located in San Francisco, and this office will help us to better serve these companies.”
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