Toba Capital
Toba Capital is a venture capital firm based in Newport Beach, California. It was founded in late 2012 by Vinny Smith, former CEO of Quest Software. The company makes seed- and late-round investments in software and technology services companies.[1] It is the largest venture capital firm in Orange County, with more than US$1 billion invested in about 75 companies.[2]
Private | |
Founded | Newport Beach, California, United States (2012) |
Founder | Vinny Smith |
Headquarters | Newport Beach, CA |
Key people | Vinny Smith, Partner |
Products | Venture capital for software and technology services startup companies |
Number of employees | 15 |
Website | www |
The company also has an office in San Francisco.
History
Toba Capital was founded in late 2012 by software executive and venture capitalist Vinny Smith, using some of the US$850 million in funds he reportedly received from the sale of his share of Quest Software to Dell.[3] The company name comes from the Toba Eruption, a volcanic supereruption theorized to have caused a global winter that supposedly caused a genetic bottleneck in humans.[4] The company chose a stylized volcano for its logo.[4]
In its first year, the company reportedly invested about US$150 million in start up software companies.[4]
In 2013, Dell Computer sold its stake in SaaS archiving company Smarsh to Toba Capital.[5]
In February 2015, the company invested US$4M in Irvine based True Drinks, Inc. a manufacturer of zero sugar flavored water products.[6] In August, Toba Capital partnered with Information technology company Pacific Controls to invest US$20M in open source technology provider WSO2.[7] In November, the company invested US$10M in healthcare startup PatientPop.[8] In December, the company joined tech investor Peter Thiel in a second round of funding for London-based freelance technology platform developer Lystable.[9]
In July 2016, the company invested in Provo, Utah-based software maker Grow.com, reportedly Toba's first investment outside of California.[10][11] In September 2016, the company was part of a US$100 million funding round for agriculture startup Indigo Agriculture, reported at the time to be the largest private equity deal in the growing agriculture technology business sector.[12]
In March 2017, one of Toba's holdings, software company Alteryx, went public, and as of August 2018 had a market capitalization of US$2.6 billion.[1] In May, the company also exited its position in Codenvy, a developer of the Eclipse Che development platform, by selling to Linux developer RedHat for undisclosed terms.[13]
In February 2018, the company invested US$16M in reporting and analytics dashboard software developer Grow.com, and closed a US$5.2M series B funding round with information security company Infocyte.[14][15] In June, the company announced a US$30M investment in contracts analytics firm Seal Software.[16] In August, Toba Capital led a US$6.4M funding round for convenience store analytics provider Skupos.[17]
Investments
As of August 2018, the company reported over US$1 billion invested in about 75 companies.[2]
Investments as of December 2019 include Conversica, Deliveroo, FloQast, Paxata, Quorum, Robinhood, Sauce Labs, ShiftMobility, StellaService, Strivacity, Transifex, and WSO2.[18]
Prior investments include Alteryx,[19] Bright,[20] ClearSlide,[18] Cloudant,[21] Codenvy, JasperSoft, MobileIron,[18] SecureAuth,[19] and SmartBear.[18]
References
- "Top VC Firms Invest 47% More in Local Companies". ocbj.com. 2017-06-05. Retrieved 2018-08-08.(subscription required)
- "Quest Vet Dickson Unretires For New Enterprise". ocbj.com. 2018-08-06. Retrieved 2018-08-07.(subscription required)
- "Smith moves on after grueling battle with Dell". Orange County Register. 2013-05-24. Retrieved 2016-12-06.
- "With Toba Capital, Vinny Smith suddenly emerges as a player in the venture industry". San Jose Mercury News. 2013-03-04. Retrieved 2016-12-06.
- Rogoway, Mike (2013-11-05). "Dell Sells its Majority Stake in Smarsh to Investment Fund Toba Capital". The Oregonian. Retrieved 2018-07-16.
- "Toba Puts $4M into Kids' Drink Maker". ocbj.com. 2015-02-24. Retrieved 2018-07-29.(subscription required)
- "Toba Backs Software Startup". ocbj.com. 2015-11-24. Retrieved 2018-07-29.(subscription required)
- "PatientPop Picks Up $10M". socaltech.com. 2015-08-13. Retrieved 2018-08-02.
- "Tech investor Peter Thiel ups stake in Lystable". telegraph.co.uk. 2018-08-15. Retrieved 2018-08-10.
- "Toba in $11M Series A Round". ocbj.com. 2016-07-15. Retrieved 2018-07-16.(subscription required)
- "Grow Raises $11M Series A Round, Funding Poetry Is Now In Session". beehivestartups.com. 2016-07-27. Retrieved 2018-07-16.
- "On Vinny's Table: Impact Investing". ocbj.com. 2016-08-01. Retrieved 2018-08-06.(subscription required)
- "Vinny Smith's Toba Capital Gets Exit At Codenvy". socaltech.com. 2017-05-25. Retrieved 2018-07-16.
- "Toba Capital Backs Grow.com In $16M In Funding". socaltech.com. 2018-02-05. Retrieved 2018-07-29.
- "CRN Exclusive: Threat Hunting Startup Infocyte Lands Ex-SonicWall Top Exec As CEO, Launches Channel Blitz". crn.com. 2018-02-09. Retrieved 2018-07-30.
- "Seal Software Secures $30 Million in Latest AI Contract Market Investment". law.com. 2018-06-25. Retrieved 2018-07-30.
- "Skupos Raises $6.4 Million to Accelerate C-Store Penetration". cspdailynews.com. 2018-08-06. Retrieved 2018-08-13.
- "Toba Capital". Toba Capital. Retrieved 2019-02-08.
- "Vinny Smith's VC firm Backs OC Software Company". ocbj.com. 2013-10-09. Retrieved 2018-07-16.(subscription required)
- "LinkedIn Snatches Up Data Savvy Job Search Startup Bright.com For $120M, In Its Largest Acquisition To Date". techcrunch.com. 2014-02-06. Retrieved 2018-07-16.
- "Cloudant raises $12m in Series B funding". bostonglobe.com. 2013-05-14. Retrieved 2018-07-16.