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The Top 25 VC Firms and the Top 10 Corporate Venture Investors of 2013

Published Tue, March 11, 2014

According to a report by Thomson Reuters and the National Venture Capital Association, there were 35 venture capital-backed IPOs and 322 M&As in the information technology space in 2013. The exit market continues strong, building on last year’s list of exceptionally profitable IPOs and acquisitions. This year’s Top 25 VC Firms and Top 10 Corporate Venture Investors of 2013 list represents a wide range of investments, from Internet to cloud infrastructure to mobile to enterprise. This year, 35 companies raised $7.3 billion, creating $64 billion in public market capitalization. The largest IPO was Twitter (TWTR), the California-based social media platform, which raised $2.1 billion last November, leading the tech-based IPO offerings for the year.

While the consumer Internet IPOs may have grabbed the most attention, the M&A market remained sharp and focused, with several companies topping the $1 billion price point. Salesforce.com’s $2.6 billion acquisition of ExactTarget was the biggest M&A dealing 2013. (Google’s acquisition of Nest Labs for $3.2 billion happened in January 2014, so is not included in this year’s stats.) Other billion dollar deals include Cisco’s $2.4 billion acquisition of Sourcefire, Oracle’s $2.3 billion acquisition of Acme Packet, Baidu’s $1.8 billion acquisition of 91 Wireless, and Yahoo’s $1.1 billion acquisition of Tumblr.

AlwaysOn editors compiled the Top 25 VC Firms and Top 10 Corporate Venture Investors of 2013 list with help from our research partners at Morgan Stanley. The winning venture firms were selected based on total number and dollar amounts of successful M&A and IPO deals during 2013 from their portfolio companies. The investors involved in the Twitter IPO benefitted from its 24.5 billion valuation, which represents almost 40% of the year’s total market cap. We acknowledge that our editors were not privy to the valuations paid by investors at each respective round of financing, so this list is based upon our best educated estimation. The Top 10 Corporate Venture Investors are listed alphabetically, as the exact ROI on each investment is not known.

This year’s winners list nears an astounding $88 billion in exit value, which clearly reveals a strong demand for quality tech companies, both in the public and M&A arenas. The on-ramp provision of the JOBS Act is likely a significant contributor to this shift, and the venture industry overall remains hopeful that IPO and M&A levels will further strengthen, as a bulging pipeline of mature companies awaits favorable market conditions in 2014. Following are this year’s Top 25 VC Firms and the Top 10 Corporate Venture Investors of 2013, the power behind the Global Silicon Valley.

Introducing the Top 25 VC Firms of 2013

Accel Partners

www.accel.com

2013 IPOs: Nimble Storage ($1.5B), YuMe ($286M), Model N ($332M), Sungy Mobile ($363M)

2013 M&As: Supercell Oy ($1.5B), Braintree Payment Solutions ($800M), Virident Systems ($685M), MoPub ($350M), 91 Wireless Websoft ($1.8B), StreamBe ($51M), Ubiquisys ($310M), Dealer.co ($994M) Total Exit Value: $9.2 billion

Andreessen Horowitz

a16z.com

2013 IPOs: Zully ($4.6B), Twitter ($24.5B)

2013 M&As: Clover Network ($56M) Total Exit Value: $29.1 billion

August Capital

www.augustcap.com

2013 IPOs: Zully ($4.6B), Mavenir ($142M)

2013 M&As: Virsto Software ($184M) Total Exit Value: $5.0 billion

Benchmark Capital

www.benchmark.com

2013 IPOs: Wix ($596M), Marin Software ($432M), Twitter ($24.5B) Total Exit Value: $25.5 billion

Bessemer Venture Partners

www.bvp.com

2013 IPOs: Wix ($596M), Criteo ($1.7B)

2013 M&As: Liazon ($215M), GTS Central European Holding ($728M), Soluto ($130M), Adap.tv ($405M), Keynote Systems ($399M), StreamBe ($51M), Intucell ($475M), Gracenote ($170M) Total Exit Value: $4.9 billion

Charles River Ventures

www.crv.com

2013 IPOs: Twitter ($24.5B)

2013 M&As: The Active Network ($1.0B) Total Exit Value: $25.5 billion

DAG Ventures

www.dagventures.com

2013 IPOs: FireEye ($4.8B), YuMe ($286M), Silver Spring ($771M), Wix ($596M), RingCentral ($808M), Chegg ($1.0B), Marin Software ($432M)

2013 M&As: Aggregate Knowledge ($119M) Total Exit Value: $9.4 billion

Draper Fisher Jurvetson

www.dfj.com

2013 IPOs: Tremor Video ($494M), Silver Spring ($771M), Twitter ($24.5B)

2013 M&As: Shanghai SynaCast Media Tech ($422M) The Active Network ($1.0B), Spreadtrum Communications ($1.7B), Tumblr ($1.1B) Total Exit Value: $30.0 billion

GSR Ventures

www.gsrventures.cn/en

2013 IPOs: LightTheBox ($612M), Qunar ($3.9B)

2013 M&As: Shenzhen State Microelectronics ($185M) Total Exit Value: $4.7 billion

Institutional Venture Partners (IVP)

www.ivp.com

2013 IPOs: Twitter ($24.5B), Marketo ($827M), RetailMeNot ($1.1B)

2013 M&As: Supercell Oy ($1.5B), Websense ($1.1B) Total Exit Value: $28.9 billion

Jafco Ventures

www.jafco.com

2013 IPOs: Twitter ($24.5B), Marin Software ($432M), Violin Memory($736B), Sungy Mobile ($363M)

2013 M&As: The 41st Parameter ($324M), MoPub ($350M), Intelligence ($723M), J-SCube ($52.5), Miyachi ($144M) Total Exit Value: $31.2 billion

Kleiner Perkins Caufield & Byers

www.kpcb.com

2013 IPOs: Twitter ($24.5B), Chegg ($1.0B), Silver Spring ($771M)

2013 M&As: Aggregate Knowledge ($119M), The 41st Parameter ($324M), Volterra Semiconductor ($600M), Waze Mobile ($966M), EdgeSpring $79M), LendingClub ($125M), CyOptics $376M) Total Exit Value: $28.8 billion

Mayfield Fund

www.mayfield.com

2013 IPOs: Marketo ($827M), Qunar ($3.9B)

2013 M&As: Voxio ($145M), Alphonso Labs, ($100M), Shenzhen State Microelectronics ($185M) Total Exit Value: $5.2 billion

Menlo Ventures

www.menloventures.com

2013 IPOs: YuMe ($286M)

2013 M&As: Tumblr ($1.1B), Digital Insight ($1.7B), Acme ($2.0B), Open Solutions ($1.0B) Total Exit Value: $6.1 billion

Meritech Capital Partners

www.meritechcapital.com

2013 IPOs: Tableau Software ($1.8B), Rally Software ($318M), Zully ($4.6B), Model N ($332M), Cyan ($490M), Tremor Video ($494M)

2013 M&As: Sourcefire ($2.4B), Tensilica ($326M) Total Exit Value: $10.7 billion

Millennium Technology Value Partners

mtvlp.com

2013 IPOs: Twitter ($24.5B), Tremor Video ($494M), Chegg ($1.0B)

2013 M&As: Tumblr ($1.1B), Netspend Holdings ($1.3B) Total Exit Value: $28.4 billion

New Enterprise Associates

www.nea.com

2013 IPOs: Tableau Software ($1.8B), Xoom ($509M), Cvent ($812M), ChannelAdvisor ($418M)

2013 M&As: Braintree Payment Solutions ($800M), Sourcefire ($2.4B), Spreadtrum Communications ($1.7B), Alphonso Labs ($100M), Virtela Technology Services ($525M), Climate ($1B), Global Logic ($420M), BCD Semiconductor ($151M) Total Exit Value: $10.5 billion

Norwest Venture Partners

www.nvp.com

2013 IPOs: RetailMeNot ($1.1B), FireEye ($4.8B), Cyan ($490M)

2013 M&As: Virtela Technology Services ($525M), The 41st Parameter ($324M), The Active Network ($1.0B), LendingClub ($125M) Total Exit Value: $8.4 billion

Sequoia Capital

www.sequoiacap.com

2013 IPOs: Barracuda Networks ($900M), LightTheBox ($612M), Nimble Storage ($1.5B), RingCentral ($808M), FireEye ($4.8B), Xoom ($509M), Virident Systems ($685M)

2013 M&As: Onavo Mobile ($150M), Sourcefire ($2.4B), Tumblr ($1.1B), Gracenote ($170M) Total Exit Value: $13.0 billion

Spark Capital Partners

www.sparkcapital.com

2013 IPOs: Twitter ($24.5B)

2013 M&As: Adap.tv ($405M), Tumblr ($1.1B) Total Exit Value: $26.0 billion

SV Angel

svangel.com

2013 IPOs: Twitter ($24.5B)

2013 M&As: Locu ($70M) Total Exit Value: $24.5 billion

Tenaya Capital

www.tenayacapital.com

2013 IPOs: Qunar ($3.9B), Cyan ($490M)

2013 M&As: Composite Software ($180M) Total Exit Value: $4.6 billion

Trinity Ventures

www.trinityventures.com

2013 IPOs: Zully ($4.6B)

2013 M&As: Skyfire Labs ($155M) Total Exit Value: $4.8 billion

Union Square Ventures

www.usv.com

2013 IPOs: Twitter ($24.5B)

2013 M&As: Tumblr ($1.1B), LendingClub ($125M) Total Exit Value: $25.7 billion

Wing Venture Partners

wing.vc

2013 IPOs: Nimble Storage ($1.5B), FireEye ($4.8B) Total Exit Value: $6.3 billion

Introducing the Top 10 Corporate Venture Investors of 2013

Cisco Systems

wwww.cisco.com

2013 IPOs: RingCentral ($808M), Barracuda Networks ($900M)

2013 M&As: Virident Systems ($685M) Total Exit Value: $1.6 billion

Google Venture

www.gv.com

2013 IPOs: Silver Spring ($771M), RetailMeNot ($1.1B) Total Exit Value: $1.8 billion

Intel Capital www.intelcapital.com 2013 IPOs: Montage ($338M), YuMe ($286M) 2013 M&As: Prolexic Technologies ($402M), Validity Sensors ($255M), Virident Systems($685M) , Volterra Semiconductor ($600M), JouleX ($107M), Allied Technologies ltd. ($191M), Enpirion ($141M), CyOptics ($376M), mFoundry ($115M) Total Exit Value: $3.5 billion

Juniper Networks

www.juniper.net

2013 IPOs: Cyan ($490M), FireEye ($4.8B), Violin Memory ($736B) Total Exit Value: $6.1 billion

Nokia Growth Partners

www.nokiagrowthpartners.com

2013 IPOs: RocketFuel ($942M) Total Exit Value: $942 million

QUALCOMM Ventures

qualcommventures.com

2013 M&As: Validity Sensors ($255M), Waze Mobile ($85M) Total Exit Value: $1.3 billion

Samsung Ventures

www.samsungventures.com

2013 IPOs: YuMe ($286M), BioAmber ($184M)

2013 M&As: iWatt ($345), Total Exit Value: $815 million

SAP Ventures

www.sapventures.com

2013 IPOs: Criteo ($1.7B), Marin Software ($432M), Violin Memory ($736B), Tremor Video ($494M)

2013 M&As: Apriso ($205M), ExactTarget ($2.6B) Total Exit Value: $6.2 billion

SoftBank Capital

www.softbank.com

2013 IPOs: Criteo ($1.7B)

2013 M&As: Bluefin Labs ($80M), Shanghai SynaCast Media Tech ($422M) Total Exit Value: $2.2 billion

SVB Capital

www.svb.com/svbcapital/

2013 IPOs: Twitter ($24.5B), RingCentral ($808M), FireEye ($4.8B), Xoom ($509M) Total Exit Value: $6.3 billion

Time Warner Investments

www.timewarnerinvestments.com

2013 IPOs: Tremor Video ($494M)

2013 M&As: Bluefin Labs ($80M) Total Exit Value: $574 million