Viewpoints

Championing Entrepreneurs with $525 Million in Two New Funds


April 29, 2016 – Championing Entrepreneurs with $525 Million in Two New Funds

Since our founding in 1969, Mayfield has championed hundreds of entrepreneurs, from an idea to an impactful company. During our 46-year history, we have invested in more than 520 companies, resulting in 114 IPOs and more than 160 mergers or acquisitions. See our notable investments for additional details.

Today we have raised $525 million across two new funds, bringing our current assets under management to over $3 billion. We are grateful for the support of our limited partners as well as the entrepreneurs who have chosen to work with us.

Organizations die of indigestion, not starvation.
This has been a core Mayfield belief, resulting in our culture of focus and consistency. We raise early-stage focused funds of approximately $400 million usually every 3-4 years and invest in roughly 30 companies per fund.

Mayfield XV is a $400 million fund which will focus on investing in early-stage technology companies serving enterprises and consumers. It is our fifteenth U.S.-focused fund and our fourth consecutive one with a consistent size and focus.

Company building is a marathon, not a sprint.
As companies establish momentum but elect to stay private longer, early investors have the opportunity to participate in multiple follow-on rounds.

Mayfield Select is a $125 million fund that will target later-stage venture investments. It is the first of its kind in our firm’s history and will invest in follow-on rounds of certain existing portfolio companies.

In just the past four years, Mayfield portfolio companies have achieved over $12 billion in total market value as reflected in acquisitions or IPOs.

At Mayfield, champion is a verb.
For over 46 years we have partnered with people who see the world differently, are brave, and have the skills and potential to be great leaders. These people don’t just build great products, they also assemble great teams and can create iconic companies. These are the leaders who have the skills and desire to change the world.

Some of the entrepreneurs we have recently championed include Rehan Jalil, founder and CEO of Elastica (acquired by BlueCoat Systems); Logan Green & John Zimmer, co-founders of Lyft; Phil Fernandez, co-founder and CEO of Marketo; CC Zhuang & Fritz Demopoulos, co-founders of Qunar; Frank Addante, founder and CEO of The Rubicon Project; and Lyndon Rive, co-founder and CEO of SolarCity. These leaders follow legendary entrepreneurs from prior decades such as Nolan Bushnell of Atari, Bob Metcalfe of 3COM, John Hennessy of MIPS, Reed Hastings of Pure Software, Steve Singh of Concur, Frederic Moll of Intuitive Surgical, Vivek Ranadive of TIBCO, and the list goes on. We are proud these entrepreneurs chose Mayfield as their partner.

Providing mentor capital, not just venture capital.
Our team is diverse in terms of background, interests, and experience, but united by many common principles such as our devotion to entrepreneurs and desire to make an impact on the world.

The core team in the new funds remains the same as the prior fund, with five investing directors (Navin Chaddha, Rajeev Batra, Tim Chang, Ursheet Parikh, and Robin Vasan) and an operating director (James Beck). The senior operations team consists of a CFO and vice presidents of marketing, investment operations, and talent.

We work hard to strike a balance between providing our expertise and active support, while not encumbering the entrepreneur unnecessarily or encroaching on their freedom. We think of this as “mentor capital.”

Invest in relationships, not transactions.
With the capital raised in our two new funds as the starting point, our team is excited to continue championing entrepreneurs, which has been the driver of our success, all the way to the finish line!