# Reid Dennis

> Reid Weaver Dennis (1926-2024) was the founding father of institutional venture capital in Silicon Valley. As founder of Institutional Venture Partners (IVP), he pioneered the model of raising venture funds from institutional investors - insurance companies and endowments - at a time when VC was barely a cottage industry. His 1974 fund raised nearly half of all private venture capital in the U.S. that year. Over seven decades, he backed companies like Seagate, Netflix, TiVo, and Juniper Networks, served 37 years on the San Francisco Opera board, and built IVP into a firm managing $7 billion with a 40-year IRR of 43.1%.

- **Role:** Founder & General Partner (Emeritus), Institutional Venture Partners
- **Organizations:** Institutional Venture Partners (IVP), Institutional Venture Associates (IVA), National Venture Capital Association (NVCA), Western Association of Venture Capitalists (WAVC), San Francisco Opera Association, Stanford Business School Trust, Stanford Engineering Venture Capital Fund, Fireman's Fund Insurance Company, American Express Company
- **From:** San Francisco, USA
- **Nationality:** American
- **Education:** B.S. in Electrical Engineering, Stanford University, M.B.A., Stanford University
- **Known for:** Founded Institutional Venture Associates (IVA) in 1974, pioneering the model of raising VC from institutional investors, Raised nearly half of all private venture capital in the U.S. in 1974 with his first fund ($19M), Built IVP to $7B AUM with a 40-year IRR of 43.1%

## Career timeline

- **1952** — Made first venture investment: ~$20,000 into Ampex Corporation while at Fireman's Fund Insurance; eventually returned ~$1 million
- **1952-1973** — Led venture capital programs at Fireman's Fund Insurance Company and American Express Company; managed six publicly-traded mutual funds
- **1974** — Founded Institutional Venture Associates (IVA); raised $19M from six insurance companies - nearly half of all private VC raised in the U.S. that year
- **1980** — Renamed firm to Institutional Venture Partners (IVP) after two partners departed; launched $22M fund
- **1980-2010** — Served as General Partner / Managing Director at IVP across Funds I-XIII; backed ~200 companies and 85+ IPOs
- **2000** — Received NVCA Lifetime Achievement Award
- **2010** — Transitioned to Strategic Partner role at IVP as Fund XIV was raised
- **2024-03-14** — Passed away at age 97 in Portola Valley, California

## Achievements

- Founded Institutional Venture Associates (IVA) in 1974, pioneering the model of raising VC from institutional investors
- Raised nearly half of all private venture capital in the U.S. in 1974 with his first fund ($19M)
- Built IVP to $7B AUM with a 40-year IRR of 43.1%
- NVCA Lifetime Achievement Award (2000)
- Past Chairman and President, National Venture Capital Association
- Past President, Western Association of Venture Capitalists
- 37 years of service on the San Francisco Opera Association Board, including 14 years as Chairman
- Founded Stanford Business School Trust and Stanford Engineering Venture Capital Fund as alumni investment programs
- Backed 400+ companies with 131 IPOs over career
- Early investor in Seagate, Netflix, TiVo, Polycom, Juniper Networks, LSI Logic, Ampex, and many others

## Latest updates

- **2024-03** — Reid Dennis passed away on March 14, 2024, at age 97, in Portola Valley, California. IVP and the broader VC community mourned the loss of institutional venture capital's founding father.
- **2024-03** — Fortune magazine published a tribute piece: 'How IVP's Reid Dennis built a VC firm to last'
- **2024-03** — IVP shared a tribute on LinkedIn: 'It is with a heavy heart that we share the passing of our founder Reid Dennis'

## Links

- Website: https://www.ivp.com/team/reid-dennis/
- LinkedIn: https://www.linkedin.com/posts/ivpvc_it-is-with-a-heavy-heart-that-we-share-the-activity-7175520330365440000-RlFJ

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Profile page: https://yespress.io/reid-dennis
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Last updated: 2026-05-05