Tenaya Capital

Tenaya Capital is a venture capital firm with offices in Portola Valley, California, and Wellesley, Massachusetts. Founded in 1995 as Lehman Brothers Venture Partners, Tenaya spun out to become an independent firm in 2009 following Lehman's bankruptcy.[1] To date, Tenaya has raised five funds representing over $1 billion of committed capital. The firm currently has approximately $750 million under management.[2]

Tenaya Capital
Private
IndustryVenture capital
PredecessorLehman Brothers Venture Partners
Founded1995
Headquarters,
United States
ProductsInvestments
Total assets~ $750 million
Websitewww.tenayacapital.com

Investments

Tenaya Capital invests in a wide range of technology segments, including Internet and consumer, communications, semiconductors and electronics, software and systems, and cleantech. Tenaya generally invests in a startup's second or third institutional round, at a point when the company has a product or service that has started to generate market traction. However, the firm does make earlier- or later-stage investments on a selective basis.

Current investments include Kayak.com, Mark Logic,[3] LifeSize, Kontera, Zappos.com, TeleNav, ShoreTel, Qunar.com, PowerReviews, Tumri, and Zuora. Past investments include comScore, Isilon Systems, Navini (acquired by Cisco Systems), SideStep (acquired by Kayak.com), Base (acquired by Zendesk), and Valere (acquired by Eltek).

Its investments include also Acquia,[4] Apartment List,[5] Base CRM,[6] BigCommerce,[7] CareCloud,[8] CloudPassage,[9] Cotendo,[10] Digium,[11] Edmodo,[12] Eventbrite,[13] ExaGrid,[14] GoodData,[15] Gupshup,[16] Hortonworks,[17] HubSpot,[18] Instart,[19] Lyft,[20] and Namely.[21]

Lehman Brothers bankruptcy and LBVP spin out

On September 15, 2008, Lehman Brothers filed for bankruptcy protection. As part of the liquidation process, Lazard was appointed to sell certain interests in Lehman Brothers Venture Partners and its other private investment units.[22][23]

In January 2009, HarbourVest Partners, a Boston private equity fund of funds, financed the spinout of Tenaya, acquiring Lehman's existing investment and unfunded commitments to Tenaya venture funds.[1]

See also

References

  1. Lehman to Spin Off Venture-Capital Arm. Wall Street Journal, February 24, 2009
  2. Miller, Claire Cain. "Lehman Brothers Spins Off Venture Capital Arm". The New York Times. Retrieved 5 August 2015.
  3. Press, Gil. "Big Data Startups News: Funding, Acquisitions And IPOs Q2 2015". Forbes. Retrieved 5 August 2015.
  4. "Aquia Investors". crunchbase. Retrieved 2019-04-10.
  5. "Apartment List Investors". crunchbase. Retrieved 2019-04-10.
  6. "Base Investors". crunchbase. Retrieved 2019-04-10.
  7. "BigCommerce Investors". crunchbase. Retrieved 2019-04-10.
  8. "CareCloud - Investors". Crunchbase. Retrieved 2019-05-09.
  9. "CloudPassage - Investors". Crunchbase. Retrieved 2019-05-09.
  10. "Cotendo". Crunchbase. Retrieved 2019-05-09.
  11. "Intuittech - Digium". www.intuittech.my. Retrieved 2019-05-09.
  12. "Edmodo Investors". crunchbase. Retrieved 2019-04-29.
  13. "Eventbrite Investors". crunchbase. Retrieved 2019-04-29.
  14. "ExaGrid Systems - Investors". Crunchbase. Retrieved 2019-05-09.
  15. "GoodData Investors". crunchbase. Retrieved 2019-04-29.
  16. "GupShup". Crunchbase. Retrieved 2019-05-17.
  17. "Hortonworks". Crunchbase. Retrieved 2019-05-17.
  18. Shah, Dharmesh. "Surprising Insights From HubSpot's $35M Mezzanine Round". www.onstartups.com. Retrieved 2019-05-17.
  19. "Instart - Investors". Crunchbase. Retrieved 2019-04-29.
  20. "Private Equity - Profit from one of the largest disruptions in financial market history". www.investx.com. Retrieved 2019-04-29.
  21. "Tenaya Capital - Recent News & Activity". Crunchbase. Retrieved 2019-04-29.
  22. Lehman Brothers Plans Private-Equity Spinoff. Wall Street Journal, January 9, 2009
  23. Lehman Brothers Merchant Banking In Limbo. IDD Magazine, September 15, 2008



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