Tenaya Capital

Tenaya Capital
Private
Industry Private Equity
Predecessor Lehman Brothers Venture Partners
Founded 1995
Headquarters Woodside, California, United States
Products Venture capital
Total assets ~ $750 million
Website www.tenayacapital.com

Tenaya Capital is a venture capital firm with offices in Menlo Park, California, and Boston, 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]

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 (NASDAQ: SCOR), Isilon Systems (NASDAQ: ISLN), Navini (acquired by Cisco Systems), SideStep (acquired by Kayak.com), and Valere (acquired by Eltek).

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.[4][5]

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. 1 2 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. ↑ Lehman Brothers Plans Private-Equity Spinoff. Wall Street Journal, January 9, 2009
  5. ↑ Lehman Brothers Merchant Banking In Limbo. IDD Magazine, September 15, 2008



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