Icon Ventures raises the biggest account ever, yet only by a smidgen

Funds have been ballooning in stretch as some-more income continues to inundate into Silicon Valley, looking for aloft earnings than can be found elsewhere. VCs also like lifting gradually bigger supports given doing so gives them bragging rights. In fact, over a final 24 months, a account has been most a same: So-and-so group has lifted some-more income than ever before.

Some of these so-and-sos have enclosed Accel Partners, that lifted a record $2 billion final year; Canaan Partners, that lifted a record $800 million in July; and Institutional Venture Partners, that sealed a biggest account nonetheless final month, with $1.5 billion.

Now Icon Ventures, a 14-year-old, Palo Alto, Ca.-based try collateral firm, has sealed a sixth account with $265 million in commitments — a largest account to date, if only by a smidgen, carrying sealed it final account with $260 million in 2014.

Some essential bets certainly helped. Icon began assisting to account a cybersecurity association FireEye during a Series B round; a association went on to lift 3 some-more rounds of appropriation before going open in 2013. It has achieved solidly, if not spectacularly, since. Its shares debuted during $36 apiece; they now trade during $17 per share, giving a association a marketplace top of roughly $3.2 billion.

Icon also invested in a Series C turn of network confidence organisation Palo Alto Networks, that has soared as a publicly traded company. When it IPO’d in 2012, a shares debuted during $42 apiece. Today, a shares trade during $147 dollars, and a association is valued during $13.7 billion.

As partial of a new fund, a organisation — that prefers to lead appropriation rounds of as most as $30 million — is also opening an bureau in San Francisco’s South Park, where a flourishing series of try firms have also set adult shop.

Among a many others now located around or within spitting stretch of a tree-lined oval park are True Ventures, Accel Partners, Kleiner Perkins Caufield Byers, Norwest Venture Partners and General Catalyst Partners.

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Posted by on Oct 11 2017. Filed under NEWS. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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