Tuesday 9th Feb 2010
Market News
Redpoint Ventures closes $400m Fund
Fund for Social and Mobile Internet, Cloud Computing and Clean Technology
Redpoint Ventures today announced that it has closed Redpoint IV, a $400 million early stage, venture capital fund. Redpoint IV will be used to back entrepreneurs and companies that will accelerate innovation in the social and mobile Internet, cloud computing and clean technology spaces. In the past six months, Redpoint entrepreneurs have realized significant liquidity, totaling nearly $2 billion in aggregate market value including: the IPO of Fortinet, and the acquisitions of LifeSize, WiChorus, Networks in Motion, and Kazeon. Additionally, portfolio companies Calix and Solyndra have filed for their IPO.
"This latest Redpoint fund will help entrepreneurs fulfill their dreams in a world of promising opportunity, and signals an exciting period for early stage investing over the next five years,” said Geoff Yang, founding partner of Redpoint Ventures. "We continue to find entrepreneurs who have brilliant ideas and an increasingly strong desire to change the world. We are committed to invest in those entrepreneurs, to stand behind their ideas and to help them achieve their goals."
Redpoint’s mission from the start has been to stand behind entrepreneurs to build businesses that shape the future. Redpoint’s collective strength and experience as a team has produced strong results investing in companies such as Danger, Fortinet, HomeAway, MySpace, LifeSize, RightMedia, and Zimbra. Redpoint has also invested in emerging leaders including: 2tor, Answers, BlueKai, Clearwell, Envia, Gaia Online, Heroku, Jumptap, and Scribd.
