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By Tomio Geron Forbes

The overall IPO market in 2012 was modestly better than 2011, but it was driven largely by a few big deals such as Facebook. Here is a more detailed look at venture-backed technology IPOs in particular in 2012.

This list below of most highly valued venture-backed tech IPOs of 2012 was compiled by a prominent venture firm and looks accurate from my checks. The data presented in this way is not a comprehensive look at venture performance but is still useful–particularly as we prepare for the 2013 edition of the Midas List.

Overall there were 38 tech companies listed that had IPOs valuing them at $100 million or more (CafePress and Envivio were also included despite currently having values below $100 million). If you include M&A, there were 83 companies with an exit value of at least $100 million. This does not include other sectors such as life sciences and health care. The top tech IPOs in 2012 in descending value were Facebook, Workday, ServiceNow, Palo Alto Networks, Splunk, Vantiv, Kayak, Guidewire Software, Ruckus Wireless, ExactTarget.

The top companies on the list (as well as many on the list overall) were predominantly enterprise software and cloud-focused companies, not much-hyped consumer technology companies, with the exception of Facebook and Kayak. The only other prominent consumer tech IPO was Yelp, which is further down the list. While consumer Internet companies received the most press and attention, it was enterprise companies that were building large new businesses.

In terms of venture capital firms, those that have had recent success as measured in the Midas List and elsewhere did well. Sequoia Capital had a stand-out year, leading all firms with 13 companies on the list exiting either via IPO or M&A at $100 million or more, including 8 IPOs. Benchmark Capital and Bessemer Venture Partners had 7 exits, Greylock Partners had 6, New Enterprise Associates had 5 and Accel Partners had 5. (Note that the list below only includes IPOs. A future post will look at M&A exits and venture firm performance.)

Of course these figures are total company values and do not show how much capital the venture firms returned from the exits. Still it’s a good proxy for the health of the top venture firms and how they are returning capital to their limited partners. Also, these values are company values as of December 21, 2012–not the value as of the IPO.

Company Value Venture Capital Investors
Facebook $56,890 Accel, DST, Elevation, Founders Fund, Greylock, GS, MeriTech, Microsoft, T. Rowe Price, WTI*
Workday $9,288 NEA, Greylock
ServiceNow $4,062 Greylock, JMI, Sequoia
Palo Alto Networks $3,741 Globespan, Greylock, JAFCO, JAIC, Northgate, Sequoia
Splunk $2,896 August, Ignition, JK&B, Sevin Rosen
Vantiv $2,873 Advent, Fifth Third Bancorp
Kayak (acq. by Priceline: Nov. 8) $1,800 Accel, General Catalyst, Oak Investment, Sequoia
Guidewire Software $1,702 Battery, Bay, Gabriel Partners, USVP
Ruckus Wireless $1,407 Focus, Mitsui, Motorola Mobility, Sequoia, Six Rivers, TELUS, T-Online
ExactTarget $1,379 Battery, Greenspring, Insight, Montagu Newhall, OpenView, Scale, TCV
Yelp $1,203 Benchmark, Bessemer, Elevation
Millennial Media $1,017 NEA, Acta Wireless, Bessemer, Charles River, Columbia
Eloqua (acq. by Oracle: Dec 20) $956 Bay, Bessemer, JMI
Infoblox $872 Chess, Dillon, Duchossois, Focus, Open Prairie, Paradigm, Sequoia
AVG Technologies $872 Benson, Oak, TA
EPAM Systems $863 Da Vinci CIS, Rainmeadow, Russia Partners
Vipshop $811 DCM, Sequoia
Shutterstock $801 Insight
Demandware $798 General Catalyst, North Bridge, T-Venture
FleetMatics $785 Investcorp, IVP, New World, Oyster
SolarCity $784 DFJ, Mayfield, Silver Lake
YY.com $741 Favor Star, GGV, Morningside, Steamboat, Tiger Global, Top Brand
Bazaarvoice $675 Austin, Battery, Constantin, European Founders, First Round
M/A-Com Technology $666 Summit
LifeLock $632 Bessemer, Biltmore, GS, Industry, KPCB, Symantec
Peregrine Semiconductor $483 Advanced Equities, Morgenthaler, Palisades, Ridgewood
Qualys $435 Bessemer, GRP, Trident
Trulia $435 Accel, Fayez Sarofim, Sequoia
Proofpoint $395 Benchmark, DAG, MDV, MeriTech, RRE
Beyondsoft $367 Shenzhen Co-Win, Wuxi
E2open $358 B&M, Crosspoint, Invesco, JK&B
Brightcove $260 Accel, General Catalyst
Ambarella $255 Benchmark, DAG, Matrix, Walden
Audience $210 NEA, Tallwood, VentureTech Alliance, Vulcan
ExactTarget $131 Boston Capital, Fidelity
INSIDE Secure $108 Alta Berkeley, GGV, Sofinnova, Vertex
CafePress $99 PacRim, Sequoia, Stratim
Envivio $45 Atlantic Bridge, Crédit Agricole Private Equity, Crescendo, HarbourVest, Sageview, Saints

* Note: does not include other investors with secondary stakes such as Andreessen Horowitz, Index, Kleiner Perkins, Tiger Global