Institutional Venture Partners closed its largest fund, the $1 billion Institutional Venture Partners XIV, said Gina Bauman, director of marketing.
The fund surpassed its $750 million fundraising target and hit its legal limit, Ms. Bauman said in an e-mail. IVP executives began marketing the fund to limited partners in existing funds in February.
Investors in the fund include $15.6 billion San Francisco City & County Employees' Retirement System, $11.9 billion New Mexico Public Employees Retirement Association and $49.9 billion Massachusetts Pension Reserves Investment Management Board.
