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News and Information Article
Focus on maximizing returns through significant operational value add to
expansion stage InfoTech companies
BOSTON, Oct. 4 // -- OpenView Venture Partners, a newly
launched venture capital firm focused on investing in global InfoTech
companies, today announced the close of its first fund at $100 million. Led
by Scott Maxwell, OpenView Venture Partners, L.P. is a spin-out of Insight
Venture Partners Boston office, and will invest in expansion stage
companies who will benefit from OpenViews significant operational value
add capabilities and experience. OpenViews value add is core to the firms
strategy of developing deep relationships and providing operational
assistance to improve the products, sales and marketing, and customer
service of portfolio companies.
"We are excited to launch our first fund to pursue the large
opportunity we see for collaboration between expansion stage InfoTech
companies and our team of operational experts," said Scott Maxwell, founder
and managing partner. "We set the goal of operational value add because, in
our experience, this involvement leads to enthusiastic customers and
increased growth rates, profitability, and long term competitive advantage.
We believe the more value we provide, the greater and faster the portfolio
company builds value."
"OpenViews new fund and the teams strategy to focus on deep value add
is strongly endorsed by us," said Jeff Horing, founding partner and
managing director of Insight Venture Partners. "As a previous managing
director at Insight, Scott was instrumental in developing Insights
successful hands-on value add program and his decision to replicate this at
OpenView demonstrates the proven benefits to portfolio companies and
investors. We believe OpenView has all the key ingredients to be a top tier
investment firm."
OpenView Venture Partners value add begins with its focus on the
InfoTech market and the expansion stage of a companys growth. OpenView
invests in companies that configure software, data, and/or hardware into
packages that provide meaningful value to their users. This includes
software on all platforms and all delivery models, as well as internet,
information and technology enabled services. OpenViews definition of
expansion stage encompasses companies with working and installed core
products that have reached an initial market with customers that use, like,
and reference the product. In practice OpenView seeks a minority ownership
of $5 million to $10 million in companies with good historic growth, and a
minimum of $500,000 in revenues per quarter.
"We strongly believe that the issues and opportunities faced by
expansion stage InfoTech companies are very different than the issues faced
by companies in other sectors or in other stages of development," stated
Scott Maxwell. "With our sector and stage choices, we are able to provide
comprehensive value against a specific set of issues and opportunities. In
our experience this will deliver superior returns to our Limited Partners
and our portfolio companies."
OpenView Venture Partners will continue to collaborate with Insight
Venture Partners on existing Insight portfolio companies and on continued
initiatives to add value to the portfolio companies of both firms. Scott
Maxwell will remain on the Board of Directors of his previous portfolio
companies and Jeff Horing will act as Special Advisor to OpenView Venture
Partners.
About OpenView Venture Partners
OpenView Venture Partners is an expansion stage venture capital fund
with a focus on high-growth software, internet, and technology-enabled
companies. Through its staff of seasoned operating executives, who
collectively bring several decades of technology & management experience to
the firm, OpenView is able to help portfolio companies with quickly ramping
up sales, marketing and product development functions to best practice
levels. The firm was founded in 2006 by Scott Maxwell with an inaugural
fund encompassing $100 million in committed capital. OpenView Venture
Partners is based in Boston, and invests on a worldwide basis. For more
information, please visit http://www.openviewpartners.com.
About Insight Venture Partners
Insight Venture Partners has raised over $2 billion in capital to
invest in leading software, technology and Internet services companies.
Headquartered in New York, Insight takes a global approach to investing,
providing hands-on execution and strategic advice to ensure portfolio
companies benefit from Insights cumulative experience working and building
successful software companies. Insight was founded in 1995 and has a
heritage of creating long- term value for all stakeholders in expansion
stage and mid-market buyout transactions. For additional information, visit
the Firms website at http://www.insightpartners.com.
Contact:
Daniel Bierbrauer
dbierbrauer@openviewpartners.com
(617) 428-0030
Erica Harris
eharris@insightpartners.com
(212) 230-9276
This release was issued through eReleases(TM). For more information,
visit http://www.ereleases.com.
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