Pacific Venture Partners

Investment decisions were made by the firm's managing partners, predominantly led by co-founder Roger McNamee. McNamee brought extensive technology investing experience from his tenure at Silver Lake and Integral Capital Partners, and he served as the lead partner on marquee deals including Facebook and Palm. The partnership structure also included Marc Bodnick and media investor Bono, though day-to-day investment execution resided with the dedicated investment team in Menlo Park, per the firm's historical communications.

No. The firm ceased active investment activity in the mid-2010s after deploying its second fund. Its last publicly reported investments occurred around 2014. The partnership continues in a wind-down capacity, focusing on portfolio realization and investor distributions.

Elevation acquired a $90 million minority stake in Facebook in 2009 through secondary market transactions at a valuation reported around $9 billion (per Bloomberg, 2010). At the time of Facebook's 2012 IPO, that stake was valued at more than $1.8 billion at the offering price, representing one of the most successful secondary market trades in private technology investing. The position was partially distributed post-IPO lockup expiration, with total returns substantially exceeding the fund's cost basis.

Key exits beyond Facebook include Yelp, which went public in 2012 after Elevation led a $100 million Series E round in 2010; Forbes, sold for approximately $475 million in 2014 to a Hong Kong-based investor group; and Palm, acquired by Hewlett-Packard for $1.2 billion in 2010. The firm also held positions in Move.com and BioWare/Pandemic Studios, with EA's 2007 acquisition of the latter providing a partial exit.

Elevation operated a hybrid strategy, raising committed capital in a traditional private equity drawdown structure but deploying it as both late-stage growth equity and structured minority positions. The firm did not label itself strictly as venture or buyout; rather, it pursued concentrated, often control-oriented minority stakes in technology and media businesses at inflection points. Its fund size and position sizing aligned more closely with growth equity and small-cap buyout funds.