Friday, May 16, 2008

SPI: Venture Capital: OVP, at 25, broadens its vision

"CELEBRATING ITS 25th anniversary this year, OVP Venture Partners is the granddaddy of the Seattle venture capital industry. "

"But this elder statesman is not slowing down as it enters the golden years.
In fact, based on conversations I had with several partners this week at the firm's annual Technology Summit, things have heated up in the past nine months. And OVP is moving in some new directions.
Managing partner Chad Waite told me that the firm has five term sheets in various stages of negotiation, an extraordinarily high number, which he said speaks to the quality of the entrepreneurs who are emerging in the Northwest.
Some follow-on financings also are close to being announced.
Interestingly, two of the new deals involve Seattle-area startups in the digital media arena (one deal closed Tuesday), and two others are in the clean tech space. "

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