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Institutional Venture Partners closes $600m fund18/05/2007. Source: AltAssets. 
 US technology venture capital firm Institutional Venture Partners has closed a new later stage venture capital fund, IVP XII, on $600m.The firm will invest its new fund in businesses operating in the communications and wireless, internet and digital media, and enterprise IT sectors.
Typical investments will range in size from $10m to $30m. The firm also intends to continue its strategy of acting as lead investor in large venture capital financings of more than $100m.
Most of the committed capital came from existing limited partners, according to a statement.
'Our later stage investment strategy has worked well in both IVP X [$225m] and IVP XI [$300m],' said Todd Chaffee, a general partner of IVP. 'Market leading technology companies need more growth capital to stay competitive these days, and our deal flow has never been stronger.'
IVP XII brings the firm's cumulative committed capital to more than $2.2bn.
Since its inception, IVP has invested in companies including Altera, Aspect Communications, Atmel, Borland, Cirrus Logic, Clarify, Concur Technologies, Form Factor, Foundry Networks, Juniper Networks, LSI Logic, Netflix, Polycom, Seagate, Synchronoss and Tivo.
IVP has offices in Menlo Park and San Francisco, California.
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