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.