From Tellme Networks to World Wide Packets, Important Realizations for the Millennium Funds
“Our approach to investing in high-growth companies is fundamentally
different than the approach used by the majority of traditional venture capital
firms,” observes Managing Partner Dan Burstein. “Yet we seek to invest
in the same kind of high quality best-of-breed technology companies other leading
venture capitalists invest in. Although we typically invest at a later stage
and with significantly mitigated risk, we still manage to enjoy a high rate of
successful exits.”
Over the last two years, the Millennium funds have experienced a variety of important
realization events, including IPOs as well as portfolio company sales to strategic
acquirors.
The most recent realization highlights from the Millennium portfolios include
the sales of Tellme Networks (to Microsoft), World Wide Packets (to Ciena), Aventail
(to SonicWALL), Requisite (to Click Commerce), and FirstVirtual (to Radvision).
Initial Public Offerings of Millennium portfolio companies have included ArcSight
(Nasdaq: ARST), one of only a handful of technology companies to succeed in the
IPO process during the first half of 2008, as well as Airvana (Nasdaq: AIRV),
which went public in 2007.