Storm Ventures originated in 1997 by a group of entrepreneurs and executives that had worked together for almost a decade at a company called Stratacom, which was founded in 1986. During this decade, Stratacom achieved a revenue run-rate of about $500 million before it was acquired by Cisco Systems in 1996, for almost $5 billion. The NASDAQ trading symbol for Stratacom was “STRM”, pronounced “storm”, hence Storm Ventures.
The original fund was $6 million, and the Limited Partners were in fact the General Partners. In late 2000, we raised a second fund totaling over $300 million, which became the full time focus of the current General Partners. Storm Ventures Fund II was comprised mostly by individuals that we had known and worked within our industry for the last couple of decades. The founding partner team also committed over $50 million to this fund. In March 2005, we raised a third fund totaling $220 million, which is being managed by the same team – with the support of many industry executives and a handful of institutions.
We believe a long history of working together as a team and a strong network have been key ingredients to our success. The entrepreneurs we have backed and the successes that they have had are our successes as a firm. As we enter 2012, we continue to build on our foundation of making entreprenuers successful and being a part of building companies of enduring value.