2012 was a year in which we continued to benefit from our 43-year history of investing in relationships.

• Limited Partners demonstrated their support of our team and belief in our strategy by helping us quickly raise a $365 million fund, Mayfield XIV.
• Today, SolarCity’s IPO had a strong debut, increasing approximately 50% over the offering price, making it our 110th IPO.
• During the last 30 days, StorSimple was acquired by Microsoft and Citrix signed a definitive agreement to acquire Zenprise.
• Earlier in the year, four other companies had positive outcomes: The Home Depot acquired Red Beacon, General Atlantic acquired our position in Fourcee, Google acquired Quickoffice, and Pearson PLC acquired GlobalEnglish.
• We made ten new investments, of which seven were announced: AgilOne, BranchOut, CloudVelocity, Easilydo, Fab, Moat, and SmartRecruiters. We also made ten follow-on investments.
• We expanded the team with exciting Executives-In-Residence such as Prashant Fuloria, ex-Facebook and Google executive.
• We developed new relationships with specialized funds such as Indian incubator/accelerator AngelPrime.
• We are excited about our breakthrough companies: mobile/Appcelerator, SaaS/Marketo, social/Gigya, marketplaces/Fab, China/Qunar, India/Matrimony.com, and the many others in the portfolio that are about to cross the chasm.

We wish everyone a safe holiday season and a productive New Year!