FOSTER CITY, Calif., Jan. 22 /PRNewswire/ -- Scale Venture Partners today announced significant progress in 2007 with six liquidity events, including four acquisitions, two initial public offerings and an additional IPO filing. ScaleVP invested $107 million in 29 companies, five of which were new ScaleVP investments. Also in 2007, the firm re-launched as Scale Venture Partners, following the completion of its first institutional fundraising.
FOSTER CITY, Calif., Jan. 22 /PRNewswire/ — Scale Venture Partners today announced significant progress in 2007 with six liquidity events, including four acquisitions, two initial public offerings and an additional IPO filing. ScaleVP invested $107 million in 29 companies, five of which were new ScaleVP investments. Also in 2007, the firm re-launched as Scale Venture Partners, following the completion of its first institutional fundraising.
"Our first full year as Scale Venture Partners exceeded our expectations," said Kate Mitchell, Managing Director, ScaleVP. "We used our expertise, track record and networks to source new deals in a number of our focus areas, including consumer electronics, Internet marketing, mobile entertainment and open source software. Each of these new portfolio companies — Discera, Vantage Media, Waterfront Media, PlayPhone and Jaspersoft — has built market- disrupting technologies and business models that intersect significant market trends."
"In addition to the acquisitions of Good Technology, Esurg Holdings, Picolight and Pavilion Technologies, two of our portfolio companies also completed IPOs. Orexigen, a 2005 investment which went public in April 2007, has seen strong mid-stage trial results for its pharmaceutical treatments for obesity, a continuing global health concern and a major focus of ours," said Lou Bock, Managing Director, ScaleVP. "Glu Mobile, a 2004 investment, went public in March 2007 and continues to take advantage of a growing global interest in mobile entertainment. IPC, which filed an S-1 in September, announced this month that it has set its IPO terms."
"Looking forward, our insight-driven investment strategy will continue in 2008 as we track technology and healthcare trends that are driving significant growth and large-market opportunities," said Rory O'Driscoll, Managing Director, ScaleVP. "For example, we are looking closely at the expansion of open source software (OSS) in the enterprise market, low-cost computing solutions and regenerative medical technologies as potential additions to our portfolio this coming year."
New Investments During 2007 Discera – MEMS-based frequency and timing controls JasperSoft – open source business intelligence PlayPhone – mobile entertainment site; powers subscription-based portals, too Vantage Media – search marketing for the education sector Waterfront Media – network of health, diet and fitness websites Liquidity Events During 2007 Acquisitions: Good Technology – acquired by Motorola in January 2007 Esurg Holdings – acquired by Henry Schlein in June 2007 Picolight – acquired by JDS Uniphase in May 2007 Pavilion Technologies – acquired by Rockwell Automation in November 2007 Initial Public Offerings: Orexigen Therapeutics – completed its IPO in April 2007 Glu Mobile – completed its IPO in March 2007 IPC, The Hospitalist Company – filed an S-1 in September 2007 and announced its IPO terms in January 2008
New Fund, New People and Promotions
In 2007, ScaleVP announced that it had completed its first institutional financing: Scale Venture Partners Fund II, a $400 million fund with the backing of 12 long-term Limited Partners. In personnel news, ScaleVP was pleased to announce the appointment of Mary Denten as CFO and Dana Maness as Controller. ScaleVP also promoted healthcare team member Nancy Lynch, M.D., to Principal. Nancy's prior experience as a practicing physician has helped ScaleVP source and build its healthcare portfolio. In the fourth quarter, Karan Mehandru joined as an Associate on the technology team. Karan brings significant work experience at Synopsys and PMC Sierra.
About Scale Venture Partners
Based in Foster City, California, the ScaleVP team is a long-standing partnership with a consistent, top quartile track record of returns. Scale Venture Partners' insight-driven investment strategy, extensive operating networks and go-to-market expertise help identify and build winning portfolio companies in technology and healthcare markets. The ScaleVP team's proven skill-set and active approach provides entrepreneurs a competitive advantage for growth and category leadership. Representative portfolio companies include Alimera Sciences, Discera, Frontbridge, Glu Mobile, mBlox, Monolithic Power Systems, National Healing, NComputing, Omniture, Orexigen, ScanSafe, Somaxon, Vantage Media, Waterfront Media, Xceive and Zogenix. For more information, visit www.scalevp.com.
For more information, please contact: Carol Sacks Tenor Communications 650.520.8261 firstname.lastname@example.org
SOURCE Scale Venture Partners