IVP Raises $1.5 Billion Venture Fund Amid Greater Competition

Venture firm IVP said it raised a new $1.5 billion fund, just two years after closing its last, showing how changes in the market are forcing even the biggest startup investors to pick up their pace.

The firm said it likely won’t start investing from the new fund, IVP XVI, until next year, because it has plenty of cash left in IVP XV, a $1.4 billion fund it raised in 2015—three years after its previous effort. But it wanted to be ready.