Redpoint Ventures closes $400M fund

Steven Loeb · January 16, 2013 · Short URL: https://vator.tv/n/2cfa

This is the firm's fifth fund, and it now manages over $3.3 billion

Redpoint Ventures has closed its latest fund, its fifth overall, it was announced Wednesday.

Entitled Redpoint V, it is a $400 million early stage venture capital fund. The firm's previous fund, Redpoint IV,  which closed in 2006, was also a $400 million fund. Redpoint now manages over $3.3 billion across its multiple funds.

Redpoint will use this latest fund to support early stage entrepreneurs and startups as they create disruptive, industry defining businesses. The firm says that it  will focus investments in "several evolving areas":

  • New platforms being developed in mobile
  • Coud and social
  • Next generation entertainment technologies and delivery systems
  • Big data infrastructure and applications
  • Enterprise class cloud, and mobile infrastructure companies and applications.

VatorNews has reached out to Redpoint Ventures for further information regarding these upcoming investments, and we will update if we learn more.

"Since we created Redpoint in 1999, a great deal has changed in the tech market - how we invest, the markets we invest in and even the pathways to building successful companies," Geoff Yang, Partner at Redpoint Ventures, said in a statement. "What has not changed is the nature of successful entrepreneurs and startups and the power of Silicon Valley. As such, with the Redpoint V fund our founding investment principles will remain the same as ever - a focus on being active investors in great entrepreneurs who are driven to create companies that change the technology landscape."

Founded in 1999, Redpoint  has now invested in over 350 technology companies, 44 of which went pulbic and 73 of which were acquisitioned.

Some of Redpoint's investments include MobiTV, Netflix, Myspace, Ask.com. Answers.com and Tivo. 

The firm lead a $30 million round for photo-app Path in April 2012;  participated in a $30 million Series C in January 2011 for interactive entertainment company Kabam; participated in a $14.5 million round for  thredUP, an e-commerce platform devoted exclusively to used kids’ clothes'; and participated in a $34 million round for consumer gift service FreeMonee.

Some of Redpoint's recent IPOs include  HomeAway, Qihoo, Intermolecular, and Responsys, while its recent acquisitions include StorSimple, NextG Networks, Efficient Frontier and Heroku.

VC funding 2012

In 2012, VC firms in the United States raised $20.6 billion for 182 funds, an increase of 10% in terms of dollars, but a 3% decrease in the number of funds year-to-year, according a report by Thomson Reuters and the National Venture Capital Association.

The fourth quarter of 2012 saw $3.3 billion raised for 42 funds, a 35% decrease in dollars and a 25% in the number of funds quarter-to-quarter. The third quarter had seen 56 funds raise $5.1 billion.

The top five venture capital funds accounted for 55% of total fundraising for the quarter, on par with the third quarter of 2012.

(Image source: https://twitter.com)

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Geoff Yang introduces Redpoint Ventures, a VC formed in 1999 with partners from Brentwood Venture Capital and Institutional Venture Partners. These two firms have been successfully investing in technology since the early days of venture capital. The team behind Redpoint has collective experience of over $2 billion under management - with 32 IPOs and 54 upside acquisitions.

 

In a 2nd video, Scott Raney, partner with Redpoint Ventures, tells what the firm looks for when evaluating investments in the mobile applications market, and gives tips for entrepreneurs looking for funding.

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