IVP, founded in 1980 by Reid Dennis, is one of the oldest venture capital firms on Sand Hill Road. Dennis had already spent nearly three decades building a network of early angel investors before formally launching IVP, and the firm became one of the first dedicated later-stage growth investors in Silicon Valley. After the dot-com crash, several IVP partners left to help found Redpoint Ventures in 1999 - a firm also tracked on this page. IVP's own defining bet came in 2009, when partner Todd Chaffee led a $44 million investment in Twitter at a $220 million valuation, a stake that grew into a return of nearly $5 billion within a decade.
Twitter's 2013 IPO - Todd Chaffee led IVP's $44 million investment in 2009 at a $220 million valuation, a stake that grew into a return of nearly $5 billion by 2018