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Venture firm IVP raises $1.5 billion for new fund

Illustration: Lazaro Gamio / Axios

Institutional Venture Partners has raised $1.5 billion for its sixteenth fund, Axios has learned. The final close came last Wednesday, although it's possible that IVP won't actually begin investing the money until early 2018.

Why it matters: IVP is one of Silicon Valley's most active late-stage venture firms, with a portfolio that includes such companies as Dropbox, Domo, Pindrop Security, The Honest Company, Slack and Tanium.