The Israeli firm has invested in companies such as Phantom Auto, Cognata and Revel TransitRead more...
This is the firm's fifth fund, and it now manages over $3.3 billion
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)
Read more from our "Fund News" series
The firm now has $785 million in capital under managementRead more...
Ghaffary was formerly the CEO of Eat24 and general partner at Social CapitalRead more...
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MobiTV Inc is the leading provider and platform for content delivery over mobile and broadband networks; delivering live television, premium and primetime programming, video-on-demand, satellite and digital music services from the top broadcast and cable television networks and major music labels to millions of users worldwide.
MobiTV is the first Global Television Network targeting mobile phone and handset users worldwide. The service delivers live television feeds to subscribers in real-time over existing cellular networks. MobiTV is compatible with most Java- or BREW-enabled mobile phones with color displays. Viewers do not need additional equipment beyond a subscription to MobiTV and their carrier 's data package.
The MobiTV service is currently available on PCS Vision from Sprint. MobiTV is developed and operated by MobiTV, Inc. MobiTV is a registered trademark of MobiTV, Inc. All other trademarks, tradenames, service marks, service names and images mentioned and/or used herein belong to their respective owners.
Joined Vator onthredUP enables customers to extract maximum value from their closets by matching their high-quality used clothes with the preferences and changing sizes of others in a robust peer-to-peer network. With an easy-to-use interface (no bartering, no auctions, no hassle) and Netflix styled pre-paid envelopes, thredUP is the first recycler + personal shopper combination, ever.
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Kabam is an interactive entertainment company leading the next wave in social gaming, developing and publishing massively multiplayer social games (MMSG’s), including the popular and critically praised title Kingdoms of Camelot and Dragons of Atlantis. Our studios focus on combining the best elements of traditional and social gaming to appeal to a growing audience of players looking for deeper, more engaging social games. The first wave of Kabam’s new games for Facebook and leading media sites have been widely recognized for their depth of play and social interaction.
Kabam started out as Watercooler, whose aim was to make connecting with your friends, family, and other fans of your favorite TV shows or Sports teams more compelling than ever before. By bringing fan communities into the context of your social network, Watercooler enables more engaging sports and TV fan experiences. Fans are able to access Watercooler's FanSection and TVLoop communities no matter where they are on the web: Facebook, MySpace, Bebo, Friendster, Hi5, MyYahoo, and TVLoop.com. Over 35 million sports and TV fans have joined Watercooler's fan applications making it the largest online fan community.
Kabam was founded by a team of social networking and community software professionals in Mountain View, CA, in 2006. The company has raised a Series A round of financing from Canaan Partners of Menlo Park, CA.
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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.