PALO ALTO, Calif., Jan. 26, 2015 /PRNewswire/ -- Jafco Ventures, a leading technology venture capital firm, today announced a rebranding of the firm to Icon Ventures. The name Icon was selected to reflect the extraordinary entrepreneurs and iconic companies in the firm's portfolio such as Aster Data, FireEye, 41st Parameter, Infinera, MoPub, Palo Alto Networks and Proofpoint, among many others.
Jafco Ventures launched its first fund in 2003, taking the name of its strategic partner in Japan, Jafco Co., Ltd. As the firm grew and expanded to five funds and more recently included more than twenty new limited partners, the time came to update the company name. Icon Ventures currently has more than $780 million under management and has realized over 22 positive exits with a combined market value of more than $21 billion. The strong relationship with their partner in Japan remains the same and the firm will continue to focus on Series B and C investments.
"Icon Ventures is the natural evolution of our firm as we continue to grow and work with world changing entrepreneurs and companies," said Joe Horowitz, managing general partner of Icon Ventures. "It is our privilege to partner with the finest venture capital firms in the world."
New Venture Partner Brings Product and Marketing Prowess to Icon
Icon Ventures also announced that Michael Mullany has joined the firm as a venture partner. Mullany has over 17 years of senior executive experience, most recently as the CEO of Sencha (an Icon investment). He has also held senior product and marketing roles at PeakStream (acquired by Google), VMware, Loudcloud/Opsware (acquired by Hewlett Packard) and Netscape.
"Michael's deep marketing and product expertise perfectly complements our team," said Tom Mawhinney, general partner at Icon Ventures. "His understanding of market dynamics and opportunities in addition to his extensive product management experience is world-class."
General partner Jeb Miller added, "Michael is a valuable addition to our firm rounding out the deep functional expertise of our three other venture partners in engineering, sales and finance. With this combination of talent we can provide extraordinary value to our portfolio companies to help them scale."
About Icon Ventures
Based in Palo Alto, CA, Icon Ventures is a specialty venture capital firm focused on leading Series B or C financings. With over $780 million under management, Icon invests with the world's leading venture firms in companies that are category winners at their earliest stages of momentum. Icon Ventures investments include iconic, market-leading companies such as Aster Data, FireEye, 41st Parameter, Infinera, MoPub, Palo Alto Networks and Proofpoint. For more information visit: iconventures.com.
SOURCE Icon Ventures