Update on Ignition Fund VPosted by admin on April 05, 2013
Today Ignition Partners announced the closing of Ignition Venture Partners V (“Fund V”), a $150 million fund whose primary focus is early-stage investments in business software and cloud computing companies. All of the Ignition partners in existing funds look forward to continuing to work together on the more than sixty existing investments in Ignition venture funds. Almost half of these active companies continue to have a significant presence in the Seattle area and support more than 2,400 local jobs.
It has been an exciting year for Ignition with our venture funds successfully exiting ten companies in the past twelve months and delivering more than $450 million in liquidity to our investors including: Splunk’s IPO (NASDAQ: SPLK), Zenprise’s acquisition by Citrix, and StorSimple’s acquisition by Microsoft. Over the life of Ignition’s venture funds more than 25 companies have been sold or gone public including Splunk, Heroku, and Zenprise, and there continues to be strong growth across the portfolio into 2013.
“The entire Ignition team looks forward to working with all sixty plus existing companies across its portfolio and partnering with new companies coming into the fold through Ignition V,” said Steve Hooper, a founding partner at Ignition. “Ignition operates as a team and as such welcomes and looks forward to working with Nick Sturiale as the newest Partner at Ignition.” “Every member of the Ignition team is committed to continuing to work with all of the companies across the Ignition funds to realize the best possible outcome for each of them,” said Jonathan Roberts, a founding partner at Ignition.
Effective with the closing of Fund V, Ignition Ventures now operates out of an office in Bellevue, WA and Palo Alto, CA with the addresses below:
350 106th Ave NE
Bellevue WA 98004
421 Kipling Street
Palo Alto, CA 94301
Ignition helps entrepreneurs build innovative, category-defining businesses of lasting value. The firm has offices in Bellevue, Wash. and Palo Alto, Calif.