Menlo Park, California based U.S. Venture Partners (USVP) announced it has launched it’s twelfth fund, which will fund cybersecurity, enterprise software, consumer and healthcare focused startups.
USVP XII will have a $340 million war chest, with $300 of that fully invested.
The parent company, USVP, is a top-tier, early-stage VC firm that has led investments in 88 companies that completed IPOs and 85 additional companies that were profitably acquired.
“With USVP XII, we are pleased to continue building on our extensive track record of successful early-stage VC investing,” said Rick Lewis, General Partner, in a statement. “In addition to a multi-decade track record of success, USVP has demonstrated exceptionally strong performance in recent years. In the last three years, USVP portfolio company exits have generated $933M in proceeds to USVP funds. Over the past decade, USVP has distributed over $2B to our investors. And 2019 was the eighth consecutive year that USVP distributions to limited partners exceeded called capital.”
USVP has helped fund such profitable startups as Inspire Medical Systems, Box, HotelTonight, Pluto TV, Omada Heatlh and Threat Matrix.