Click here to close now.

SYS-CON MEDIA Authors: JP Morgenthal, AppDynamics Blog, John Wetherill, Harry Trott, Roger Strukhoff

News Feed Item

Felicis Ventures Raises $96M Founder-Centric Fourth Fund to Invest in Reinvention of Core Markets and Development of Frontier Technologies

PALO ALTO, CA -- (Marketwired) -- 08/05/14 -- Felicis Ventures, the Palo Alto-based boutique venture capital firm, announced today that it has raised $96M for its fourth fund to back iconic companies with a focus on reinvention of core markets, such as security and mobile infrastructure, as well as development of frontier areas, including machine learning and personalized medicine. The fund, backed 100% by institutional investors, welcomes three university endowments as limited partners.

Since its inception in 2006, Felicis has refined its unique founder-centric approach while backing over 120 technology companies, 50 of which have been acquired or gone public. With each added fund, Felicis has tripled its aggregate enterprise exit value, which now exceeds $5.6B. The current portfolio spans a variety of sectors and includes startups headquartered in ten countries. Notable portfolio companies include Adyen, Bonobos, ClearSlide, Counsyl, Fitbit, Rovio and Shopify.

With its fourth fund, Felicis's largest to-date, the team intends to lead more sizeable financing rounds and continue to play a pivotal role with its founders. "Felicis believed in our potential before everyone else," remarked Manish Lachwani, co-founder & CTO of Appurify, a mobile testing company recently acquired by Google. "Many investors make introductions for their portfolio companies, but Sundeep made the most important one of all: he brought me and my co-founder together," said Lachwani. "We frequently looked to him for advice and support all the way up until our acquisition."

Felicis's most important requirement for partnering with a founder is shared conviction. "Felicis sought us out after using our service. They were both prepared and enthusiastic at our first meeting. The team made it clear that they believed in our mission and would work with us to make preventable medicine achievable," said Ramji Srinivasan, cofounder of health technology company Counsyl. "Their initial investment in our Series B and substantial follow-on support matched their conviction on day one." Similarly, a strong belief in the enormous potential of global payments infrastructure led the Felicis team to pursue Netherlands-based Adyen. Following two years of building a relationship with Adyen's founders, Felicis became one of only two institutional investors in the rapidly growing company.

The new fund will also allow Felicis to meaningfully deepen its alignment with founders: today, the firm announced a commitment to always vote its investor shares alongside them. This initiative has been lauded by industry heavyweights, including Sam Altman, President of Y Combinator. "For the two years I was angel investing before joining YC, I often did this when I funded entrepreneurs. I applaud Felicis for taking this step and hope other funds will follow in their footsteps," he said.

Jack Abraham, a founder Felicis has backed multiple times and whose first startup, Milo, was acquired by eBay, originally suggested the voting rights concept. Abraham, who is also an advisor to Felicis, noted that, "Renata, Sundeep and Aydin genuinely care for their founders. The firm's conservative fund size means that exits that wouldn't move the needle to larger funds remain meaningful for Felicis, reinforcing their alignment with the companies they back. Whether it's committing to vote their shares with the founders, or being flexible on the usual ownership, stage or location constraints, Felicis is trailblazing a truly special approach to venture capital."

For more information on Felicis and a graphical representation of the fund's impact globally, visit: www.felicis.com/infographic

About Felicis Ventures:

Founded in 2006, Felicis Ventures is a boutique venture capital firm based in Palo Alto. The firm invests in iconic companies with a focus on reinvention of core markets (Adyen, Bonobos, Clearslide, Rovio, Shopify), as well as development of frontier areas (Counsyl, Fitbit, Matterport, Planet Labs, Vicarious). 50 Felicis portfolio companies have been acquired or gone public, including Meraki (acquired by Cisco), Climate Corporation (acquired by Monsanto), Dropcam and Wildfire (both acquired by Google).

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Some developers believe that monitoring is a function of the operations team. Some operations teams firmly believe that monitoring the systems they maintain is sufficient to run the business successfully. Most of them are wrong. The complexity of today's applications have gone far and beyond the capabilities of "traditional" system-level monitoring tools and approaches and requires much broader knowledge of business and applications as a whole. The goal of DevOps is to connect all aspects of app...
DevOps is the hottest moving target when it comes to software development methodologies. Many people fear that this fast-paced, barrier-breaking movement will leave information security best practices in the dust. Analysts provide recommendations to security professionals using bingo-laden terms like "moving security to the left" or "get a seat at the table." What we need are real-world examples and tactics for security practitioners to be part of DevOps. In his session at DevOps Summit, Andrew...
Containers Expo Blog covers the world of containers, as this lightweight alternative to virtual machines enables developers to work with identical dev environments and stacks. Containers Expo Blog offers top articles, news stories, and blog posts from the world's well-known experts and guarantees better exposure for its authors than any other publication. Bookmark Containers Expo Blog ▸ Here Follow new article posts on Twitter at @ContainersExpo
DevOps is all about agility. However, you don't want to be on a high-speed bus to nowhere. The right DevOps approach controls velocity with a tight feedback loop that not only consists of operational data but also incorporates business context. With a business context in the decision making, the right business priorities are incorporated, which results in a higher value creation. In his session at DevOps Summit, Todd Rader, Solutions Architect at AppDynamics, discussed key monitoring techniques...
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
Want to enable self-service provisioning of application environments in minutes that mirror production? Can you automatically provide rich data with code-level detail back to the developers when issues occur in production? In his session at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how to accomplish this and more utilizing technologies such as Microsoft Azure, Visual Studio online, and Application Insights in this demo-heavy session.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will addresses this very serious issue o...
SYS-CON Events announced today that BMC will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. BMC delivers software solutions that help IT transform digital enterprises for the ultimate competitive business advantage. BMC has worked with thousands of leading companies to create and deliver powerful IT management services. From mainframe to cloud to mobile, BMC pairs high-speed digital innovation with robust...
Over the years, a variety of methodologies have emerged in order to overcome the challenges related to project constraints. The successful use of each methodology seems highly context-dependent. However, communication seems to be the common denominator of the many challenges that project management methodologies intend to resolve. In this respect, Information and Communication Technologies (ICTs) can be viewed as powerful tools for managing projects. Few research papers have focused on the way...
As the world moves from DevOps to NoOps, application deployment to the cloud ought to become a lot simpler. However, applications have been architected with a much tighter coupling than it needs to be which makes deployment in different environments and migration between them harder. The microservices architecture, which is the basis of many new age distributed systems such as OpenStack, Netflix and so on is at the heart of CloudFoundry – a complete developer-oriented Platform as a Service (PaaS...
As cloud gives an opportunity to businesses to buy services externally – how is cloud impacting your customers? In his General Session at 15th Cloud Expo, Fabio Gori, Director of Worldwide Cloud Marketing at Cisco, provided answers to big questions: Do you see hybrid cloud as where the world is going? What benefits does it bring? And how does Cisco connect all of these clouds? He also discussed Intercloud and Cisco’s investment on it.
The Internet of Things is not new. Historically, smart businesses have used its basic concept of leveraging data to drive better decision making and have capitalized on those insights to realize additional revenue opportunities. So, what has changed to make the Internet of Things one of the hottest topics in tech? In his session at @ThingsExpo, Chris Gray, Director, Embedded and Internet of Things, discussed the underlying factors that are driving the economics of intelligent systems. Discover ...
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager – Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, will review next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discuss how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Speaker Bios Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has b...
SYS-CON Events announced today that O'Reilly Media has been named “Media Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York City, NY. O'Reilly Media spreads the knowledge of innovators through its books, online services, magazines, and conferences. Since 1978, O'Reilly Media has been a chronicler and catalyst of cutting-edge development, homing in on the technology trends that really matter and spurring their adoption...