SVG Partners today announced the further expansion of their investment arm with the launch of their second venture fund at the opening of their new offices in Los Gatos, California.
SVG Venture Fund 1 has a portfolio of 15 companies and has been investing since 2011. Companies include 3D printing pioneers Mcor Technologies and mobile payments company Flint Mobile.
SVG most recently invested in Altocloud, a customer communications platform led by Barry O‘Sullivan, former SVP at Cisco. With Altocloud, O’Sullivan plans to revolutionise how companies communicate with customers.
“We are delighted to launch our second technology fund which will continue its focus on early stage technology companies. This funding coupled with the domain expertise of our advisory board, led by Craig Barrett, former chairman and CEO of Intel Corporation and 8,000 strong global network will help to accelerate and scale these companies,” said John Hartnett, CEO and founder, SVG Partners.
The new SVG Partners facility in Los Gatos was opened today, St Patrick’s Day by Jimmy Deenihan TD, Irish Minister for Arts, Heritage & the Gaeltacht. The facility will be home to the SVG Venture Funds and will be the organisation’s hub for investment and professional services activity.
SVG Partners continues to grow its existing Silicon Valley Global Accelerator in downtown San Jose that was opened in 2010. The SVG Accelerator facility today has over 40 resident companies and organisations including, SiSaf a leading biotech startup, MediaMelon, a CDN optimization company, Manos Accelerator, the first Latino accelerator, The Steinbeck Innovation Programme, leading Ag-tech innovation, SVForum and San Jose Dublin Sister City Programme.