Lightspeed, Hummer Winblad, NEA see windfall from MuleSoft IPO

Lightspeed Venture Partners, Hummer Winblad Venture Partners and New Enterprise Associates are in line for big windfalls from last week’s MuleSoft IPO.

The three firms collectively own 42.1 percent of the company, according to the MuleSoft S-1 filing detailing the post-offering ownership.

Also in position for nice paybacks are Morgenthaler Ventures (now known as Canvas Ventures), Sapphire Ventures and Bay Partners, according to the filing.

MuleSoft’s IPO on March 17 was the second high-profile offering from a venture-backed company this year, following on the heels of Snap’s stock market debut on March 2.

The company’s reception was more favorable than Snap’s, with its shares up 45.6 percent on their first day of trading. As of the end of trading on Monday, the stock held most of the gain, closing at $23.40, down 5.5 percent.

At that price, Lightspeed’s holdings of 19.3 million shares represent 15.3 percent of the company and are worth $452 million.

Hummer Winblad’s position was equally substantial. The firm’s 17.8 million shares, or 14.1 of the stock, had a value of $418 million. The exit comes at a good time for Hummer Winblad, which is currently in the midst of raising of raising $125 million for its seventh fund.

Also in position for a big gain was NEA, which held 16.1 million shares, or 12.7 percent of the company. The shares were worth $377 million.

Other firms with significant holdings are:

• Morgenthaler, with 8.4 million shares worth $197 million;
• Sapphire, with 7.6 million shares worth $178 million; and
• Bay, with 7.1 million worth $165 million.

Action Item: More info on the MuleSoft IPO from its S-1 filing at http://bit.ly/2mmMIl5

Photo of stock market graph courtesy of FeelPic/iStock/Getty Images