Dennis Phelps  

General Partner, Institutional Venture Partners

Dennis Phelps is making his way back to the Midas List (off since 2009) driven by his investment in vanishing photo message app phenomenon Snapchat. Institutional Venture Partners led a $60 million investment back in 2013 when Snapchat was worth just $800 million. The blazing hot Los Angeles startup has since reportedly been in the process of raising another round with a valuation between $15 billion and $19 billion. He got one nice exit in 2014 with security camera maker Dropcam, sold to Google/Nest for $555 million. He's also invested in Shazam, SoundCloud, The Honest Company, xAd, Yodlee, ZEFR. Before joining IVP in 2001, Phelps spent a few years at Battery Ventures and the Internet Capital Group.

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