Announcing ECP IV: Enterprise Next

We are thrilled to announce the close of our fourth fund, Emergence Capital Partners IV. We are fortunate to be in a position to choose both our investors and fund size to support our investment strategy. After much reflection, we concluded that $335 million was the “perfect” size for us, not too big and not too small.

With the close of this fund, we now have just shy of $1B under management – all focused on the future of enterprise technology. We have remained committed to our original thesis that enterprise software would move to the cloud, and we continue to invest in the visionaries who are building the leading enterprise companies.

This new fund lets us continue to be the most important partner for our portfolio companies, which means getting involved early in a company’s life and having the time to truly engage with the founders we back. Venture capital is about close relationships, and we wanted to ensure that we have a fund size that allows us to continue investing in these relationships.

As we gradually add more portfolio companies, we are thoughtfully building our investment team. We welcomed Santi Subotovsky as our fifth investing Partner this year, and we have continued to add depth to our team.

One of our proudest moments as partners at Emergence was learning that 100% of our current institutional investors wanted to sign up for our newest fund. We are also excited to welcome a handful of new premier university endowments and foundations to ECP IV. When we started Emergence, one of our original goals was to attract LPs from the most respected institutions in the world, and we are thrilled to have gained their confidence.

Looking ahead, we are incredibly energized by the opportunities to leverage the cloud to build the future of enterprise technology. We were the first venture firm to predict the importance of SaaS and focus 100% on its promise, leading to early investments in Salesforce.com (CRM), SuccessFactors (SFSF, acquired by SAP), Veeva Systems (VEEV), Yammer (acquired by Microsoft), and Box (BOX), among many others. Today we are focusing on what’s next for the enterprise, and there has never been a more diverse and interesting set of new investment opportunities.