OpenView Refocuses on Existing Portfolio Companies
OpenView was founded in 2006 on a mission to improve people’s working lives by investing in business software companies at the expansion stage.
OpenView’s partnership has taken a step back to reflect and to strategize a path forward. The firm has decided to suspend investing in new companies in our current fund (Fund VII) and instead focus resources on building further value in the existing portfolio, while taking time to determine the best go-forward strategy. We will be entering a voluntary suspension period for Fund VII. We believe this is the right thing to do strategically and as a fiduciary of our LPs’ capital.
We are proud to partner with a broad mix of founders and CEOs, and we believe in the future potential of our existing portfolio companies. We are committed to supporting their financial and operational needs as they continue to innovate, hire and grow.
OpenView will continue to have fund reserves to invest in these existing portfolio companies. The firm’s senior partners expect to work closely with these companies as board members as well as support the operational needs of our portfolio companies through OpenView’s Expansion Platform, including via growth strategy, recruiting, and corporate development initiatives.
While we will refocus our resources on supporting the portfolio, these changes have led to a broad-based internal restructuring that has reduced staffing levels across teams to align firm resources with this new strategic path forward. This means parting ways with an incredible group of people who have done phenomenal work. We are supporting these colleagues as they work to find what’s next in their careers.
We are grateful beyond measure to the amazing community of entrepreneurs, investors, and the broader VC and SaaS communities that have supported us over these last 17 years – and look forward to working with the community going forward. Followers of the firm’s SaaS industry thought leadership can continue to access the firm’s resources and reports via the OpenView blog and newsletter.
Thank you for your support.