Founded in 1986, Trinity Ventures currently manages over $600 million in capital. Trinity invests in early stage electronic commerce, communications, and software and applications services companies. In November 1999, the firm announced that it had raised $300 million in its latest fund, Trinity Ventures VII. Trinity's portfolio currently includes over 100 companies.

Investment strategy

Trinity likes to invest early, usually in first or second venture rounds. Typically, Trinity will offer an initial investment of $2 to $10 million, and provide additional capital (up to a total of $20 million) during the life of the investment. Trinity usually invests in companies located in the western United States.

In its first 10 years of operation, Trinity focused on two distinct areas: consumer retail and technology companies. With successful investments in Starbucks and Jamba Juice, Trinity gained a reputation for branding expertise. According to the company, in addition to capital, Trinity offers its portfolio companies "a long track record of investing in brand-focused companies such as Starbucks, NextCard, and BabyCenter." In recent history, the company has tried to utilize that marketing know-how to aid Internet and new media companies such as PlanetOutdoors.com and iMotors.com. While many industry experts are skeptical of e-commerce opportunities, Trinity partners believe their experience with both consumer and technology markets gives them a distinct advantage.

Portfolio

Trinity organizes its investments into three categories: electronic commerce, communications, and software and applications services companies. Communications companies within Trinity's portfolio include Cisco Systems and Network Alchemy. Software and application service investments include Digital Market, Promptu and BackWeb Technologies. Electronic commerce companies include business-to-consumer firms (such as ShoppingList.com, an online office shopping guide, and iMotors.com, an online used car sales site), business-to-business firms (such as Fatbrain.com, an online seller of computer books, and LoopNet, an online real estate marketplace) and service and infrastructure companies (such as Virage and Kiva Software). Since mid-1998, nine Trinity portfolio companies have gone public and two were acquired.

Partners

Trinity employs nine professionals, including six general partners. During 1999, Trinity experienced a growth spurt, doubling its capital under management and hiring three new employees. According to a report by Red Herring, Trinity expanded in order to offer start-ups larger amounts of capital and also to participate in some later stage investment opportunities. General partner Tod Francis told Red Herring, "The deals are flowing fast and furiously."