Scale Venture Partners announced today that it was able to secure US$300 million in pledges at the conclusion of ScaleVP IV LP, going beyond the actual amount it was aiming to raise. The round was participated in by global family-named corporations, renowned pension plans, foundations, funds of multi-manager investments and financial institutions. The round was strongly supported by its present investors plus an addition of a number of renowned organizations as limited partners.
Kate Mitchell, ScaleVP Partner related, "We are deeply grateful for the support from our existing and new LPs who recognize the quality of our portfolio companies, our team-oriented culture and our focused investment approach."
Ms. Mitchell further added, "We look forward to working closely with our limited partners, co-investors, and importantly, the entrepreneurs who are building the high-growth companies that are the lifeblood of the venture capital business."
According to ScaleVP Partner, Rory O'Driscoll, "Our focus at ScaleVP is on helping companies scale from first customers to mass adoption. We are seeing an inexorable trend in the adoption of cloud and mobile that is the driving force behind the revenue growth across our portfolio and the technology industry as a whole."
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