Did someone say economic slump? Not in Silicon Valley. The initial public offerings of LinkedIn (LNKD) and Groupon (GRPN) brought billion-dollar paydays* to venture capital firms New Enterprise Associates, Sequoia Capital, and Greylock Partners, while Kleiner Perkins Caufield & is expected to profit handsomely from Zynga’s IPO on Dec. 16.

For venture firms that missed out on those high fliers, plenty of money was made in vacation-rental site HomeAway (AWAY), which helped Redpoint Ventures crack the year’s top 10. Khosla Ventures was the only investor to make a splash unrelated to the Web with its majority ownership of KiOR (KIOR), a biofuel maker that is valued at over $1 billion even though the company has yet to generate a penny of revenue.

As eyes turn to next year, IPO envy mounts for Accel Partners, which could rake in more than $10 billion, thanks to a 2005 investment in a little social-networking company known at the time as Thefacebook.

*Profits reflect company share price on Dec. 12
DATA: Regulatory filings

Photography by: Michael Nagle/Bloomberg

Did someone say economic slump? Not in Silicon Valley. The initial public offerings of LinkedIn (LNKD) and Groupon (GRPN) brought billion-dollar paydays* to venture capital firms New Enterprise Associates, Sequoia Capital, and Greylock Partners, while Kleiner Perkins Caufield & is expected to profit handsomely from Zynga’s IPO on Dec. 16.

For venture firms that missed out on those high fliers, plenty of money was made in vacation-rental site HomeAway (AWAY), which helped Redpoint Ventures crack the year’s top 10. Khosla Ventures was the only investor to make a splash unrelated to the Web with its majority ownership of KiOR (KIOR), a biofuel maker that is valued at over $1 billion even though the company has yet to generate a penny of revenue.

As eyes turn to next year, IPO envy mounts for Accel Partners, which could rake in more than $10 billion, thanks to a 2005 investment in a little social-networking company known at the time as Thefacebook.

*Profits reflect company share price on Dec. 12
DATA: Regulatory filings

Photography by: Michael Nagle/Bloomberg

The Venture Capital Winners of 2011

Capitalizing on Startups
Capitalizing on Startups

Did someone say economic slump? Not in Silicon Valley. The initial public offerings of LinkedIn (LNKD) and Groupon (GRPN) brought billion-dollar paydays* to venture capital firms New Enterprise Associates, Sequoia Capital, and Greylock Partners, while Kleiner Perkins Caufield & is expected to profit handsomely from Zynga’s IPO on Dec. 16.

For venture firms that missed out on those high fliers, plenty of money was made in vacation-rental site HomeAway (AWAY), which helped Redpoint Ventures crack the year’s top 10. Khosla Ventures was the only investor to make a splash unrelated to the Web with its majority ownership of KiOR (KIOR), a biofuel maker that is valued at over $1 billion even though the company has yet to generate a penny of revenue.

As eyes turn to next year, IPO envy mounts for Accel Partners, which could rake in more than $10 billion, thanks to a 2005 investment in a little social-networking company known at the time as Thefacebook.

*Profits reflect company share price on Dec. 12
DATA: Regulatory filings

Photography by: Michael Nagle/Bloomberg

NEA
NEA
No. of IPOs: 5
Invested: $135 million
Profit: $2.57 billion
Companies: Groupon, Fusion-io, Clovis Oncology, Boingo, BCD Semiconductor

Photography by: Scott Olson/Getty Images
Sequoia
Sequoia
No. of IPOs: 4
Invested: $83 million
Profit: $1.53 billion
Companies: Jive Software*, LinkedIn, Qihoo 360 Technology, NetQin Mobile
*For Jive we use the IPO price of $12

Photography by: Michael Nagle/Bloomberg
Greylock
Greylock
No. of IPOs: 5
Invested: $115 million
Profit: $1.36 billion
Companies: LinkedIn, Pandora, Zipcar, Imperva, Groupon

Photography by: Ramin Talaie/Bloomberg
Accel
Accel
No. of IPOs: 4
Invested: $52.5 million
Profit: $917.2 million
Companies: Fusion-io, Imperva, Responsys, Groupon
Kleiner
Kleiner
No. of IPOs: 4
Invested: $154.9 million
Profit: $875.1 million
Companies: RPX, Zynga*, Groupon, Jive
*For Zynga we assume an IPO price of $10 a share
Khosla
Khosla
No. of IPOs: 2
Investment: $87.5 million
Profit: $614.3 million
Companies: KiOR, Gevo
Redpoint
Redpoint
No. of IPOs: 4
Invested: $87 million
Profit: $466.8 million
Companies: HomeAway, Qihoo 360 Technology, Responsys, Intermolecular

Photography by: Jin Lee/Bloomberg
Technology Crossover Ventures
Technology Crossover Ventures
No. of IPOs: 3
Invested: $350 million
Profit: $446.4 billion
Companies: HomeAway, Zillow, Groupon

Photography by: Scott Olsen/Getty Images
Bessemer
Bessemer
No. of IPOs: 2
Investment: $26 million
Profit: $434 million
Companies: LinkedIn,Cornerstone OnDemand

Photography by: Michael Nagle/Bloomberg
Battery
Battery
No. of IPOs: 2
Invested: $93 million
Profit: $410.9 million
Companies: Groupon, Angie's List