Snapchat backer IVP raises $1.4 billion for latest venture fund

April 23, 2015 10:01 PM

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SAN FRANCISCO, April 23 (Reuters) - Late-stage venture firm Institutional Venture Partners said on Thursday it had raised $1.4 billion for its latest fund, IVP XV, showing continued investor appetite for late-stage private companies even as the public-market's appetite seems to be flagging. [ID: nL3N0X32VZ]

The fund marks a considerable boost over the $1 billion IVP XIV raised in 2012, and to some extent reflects the growing tendency of late-stage startups to delay tapping public markets for funds and instead turn to late-stage investors. Josh Kopelman at First Round Capital has dubbed the phenomenon t...

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