|By Business Wire||
|January 16, 2013 01:00 PM EST||
Redpoint Ventures today announced that it has closed Redpoint V, a $400 million early stage venture capital fund. Redpoint V will be used to support early stage entrepreneurs and startups as they create disruptive, industry defining businesses.
Redpoint V follows Redpoint IV, also a $400 million fund, which was raised three years ago. Redpoint now manages over $3.3 billion across its multiple funds, and has now invested in over 350 technology companies.
With recent IPOs amongst the Redpoint portfolio including HomeAway, Qihoo, Intermolecular, and Responsys, and acquisitions including StorSimple, NextG Networks, Efficient Frontier and Heroku, the Redpoint team has always focused investments on founders and businesses creating new markets or redefining existing ones.
“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,” said Geoff Yang, Partner, Redpoint Ventures. “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.”
Redpoint V will focus investments in several evolving areas: new platforms being developed in mobile, cloud and social; next generation entertainment technologies and delivery systems; big data infrastructure and applications, and enterprise class cloud, and mobile infrastructure companies and applications.
“Redpoint is a true partner to founding teams and a great firm to work with. They are also one of the few firms who understand the unique needs of cloud infrastructure and enterprise technology companies - which makes the Redpoint V closing great news for the next generation of founders,” said James Lindenbaum, founder of Heroku.
About Redpoint Ventures
Since 1999, the Redpoint team has been partnering with visionary founders who create new markets or redefine existing ones. From the earliest stages, Redpoint partners have supported over 350 companies, 44 IPOs and 73 upside acquisitions. Industry-defining investments include HomeAway, Fortinet, Qihoo, Right Media, Heroku, Netflix, Tivo, Juniper, among many others. Today, Redpoint manages over $3.3 billion across multiple funds and invests in disruptive founders and companies at the seed, early and growth stages.
For more information on our portfolio and team, visit: www.redpoint.com
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