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U.S. Venture Partners, usually shortened to USVP, is one of the longest running venture firms in the Palo Alto area. It was founded in 1981 and today lists a single office, in Menlo Park. Its address is unusual for the industry. Instead of an oak-shaded campus on Sand Hill Road, USVP sits on El Camino Real, close enough to the Caltrain station that the firm mentions the walk on its contact page.
This profile is a neutral explainer for founders and visitors. It draws on USVP's website, read in November 2026, plus published history. The firm says little about fund sizes, so we note what is and is not on the public record. For a primer on how venture funds work, start with our venture capital guide.
Founding in 1981
USVP was founded in 1981 by Bill Bowes, Stuart Moldaw and Robert Sackman. It arrived during the wave of new firms that formed after Kleiner Perkins and Sequoia showed in the 1970s that venture capital could work at scale. Bowes was already an experienced investor. He is also known as a founding investor in Amgen, the biotech company, which helps explain why health care has been part of USVP from the start.
The firm's About page describes its foundation as "four generations of high-technology venture investing." It says the current team of former investors, chief executives, executives and founders has a combined 150 years of operating and investing experience. Our history of venture capital on the Peninsula puts the 1980s firms in context.
The office on El Camino Real
USVP lists one office: 1460 El Camino Real, Suite 100, Menlo Park, CA 94025. The site's footer says simply that "USVP is based in Menlo Park, California." Its contact page adds a line that most VC firms never bother with: the office is about five minutes on foot from the Menlo Park Caltrain station.
That stretch of El Camino Real runs through the center of Menlo Park, near the downtown blocks around Santa Cruz Avenue. It is a busy state highway lined with offices, shops and hotels rather than a secluded office park. For founders arriving by train from San Francisco or San Jose, it is among the most accessible venture offices in the area.
Stage and sectors
USVP's homepage sums up its approach as "focused on early stage IT and healthcare investments." Its About page names four sectors and lists examples it considers successes in each:
| Sector | Examples named by USVP |
|---|---|
| Enterprise and cloud software | Box, Guidewire, Human Interest, Yammer, Zerto, Epsagon |
| Security | Check Point, Imperva, ThreatMetrix, Trusteer, Cato Networks, Arkose Labs, Kenna, Medigate |
| Consumer | HotelTonight, Pluto TV, Trunk Club, Happy Returns |
| Health care | Inari Medical, Inspire Medical Systems, Intersect ENT, HeartFlow, Omada Health, Proteolix, Nanostim |
The health care team describes a particular interest in therapeutic medical devices that allow new or less invasive procedures, in targeted protein or small molecule drugs and in technology-enabled health services that improve care or reduce cost. Recent news posts on the firm's site, from September and October 2026, cover medtech companies such as Okami Medical and HighLife plus ReEmerge, a brain injury company that announced a $37 million Series A.
USVP usually takes a board seat. Its About page says partners work closely with executives "over several years, usually serving on a company's Board of Directors," and that founders get access to the whole team, not only their board member.
Track record and funds
The firm's "USVP in numbers" panel lists $4.7 billion invested, 542 companies and 98 IPOs. The About page headline reads "45 years, 542 companies, one mission." Wikipedia's article, drawing on older firm figures, reported that USVP was investing from its thirteenth fund, USVP XIII, as of 2022. It also cites typical first investments of $5 million to $10 million, a figure that may be dated.
We found no recent fund announcement from USVP. The firm does not publish the size of its latest fund on its website. If fund size matters to your raise, ask the partners directly. They can explain how much is reserved for follow-on rounds.
Historic investments
Beyond the companies on its current site, published histories credit USVP with early investments in Sun Microsystems, SanDisk, Ross Stores, PetSmart, Callaway Golf, Ask Jeeves and Mellanox. Sun has a strong local link, since its name came from the Stanford University Network. Our page on Sun Microsystems tells that story.
How founders approach USVP
USVP's website does not offer an application form. The contact page gives a general email address, a phone number and the office address. Here is a practical way to approach the firm:
- Match the sector. USVP invests in four areas. If your company sits outside enterprise software, security, consumer or health care, it is probably not a fit.
- Find the partner. The team page lists the investment team. Read each partner's background and recent investments before you reach out.
- Use the network. USVP describes a network of 500 companies and 5,000 executives. A founder or executive from a USVP company is a strong source of an introduction.
- Be ready for a board conversation. The firm usually joins the board, so expect questions about governance, hiring plans and how you make decisions.
A longer track record cuts both ways for founders. USVP partners have seen many cycles and can describe how earlier companies handled downturns, layoffs and acquisition offers. The flip side is that a firm with decades of portfolio companies has strong opinions about what works. Ask partners for references from founders whose companies struggled, not only from the IPO winners on the homepage.
Our guides to pitching investors and term sheet basics walk through what happens after the first call. Medical device and biotech founders should also read our page on biotech and health investors.
Local notes: Caltrain, food and parking
A meeting at USVP is easy to do by train. Ride Caltrain to Menlo Park, one stop north of Palo Alto, then walk about five minutes. Not every train stops at Menlo Park, so check the timetable. Our Menlo Park station guide covers the 1867 depot, parking and bike options.
If you drive, Menlo Park runs free public parking plazas behind the downtown storefronts, most with three-hour limits enforced on weekdays. Ask about visitor parking at the office when you confirm.
The downtown blocks around Santa Cruz Avenue are close by for food and coffee:
- Cafe Borrone, 1010 El Camino Real, shares a plaza with Kepler's Books and serves breakfast, lunch and coffee.
- Mademoiselle Colette, 816 Santa Cruz Avenue, is a French bakery.
- Amici's East Coast Pizzeria, 880 Santa Cruz Avenue, is an easy casual lunch.
- British Bankers Club, 555 Santa Cruz Avenue, opens in the late afternoon for drinks.
Our guide to where to eat in Menlo Park has more options, all confirmed in October 2026.
Good to know
- The office is a private workplace. Visit only for a scheduled meeting.
- USVP lists a single office, so most in-person meetings happen in Menlo Park.
- Fund figures on Wikipedia date from about 2022. Ask the firm for current details.
- This page is not investment advice and makes no claims about returns.
Frequently asked questions
Where is USVP located?
USVP's website lists 1460 El Camino Real, Suite 100, Menlo Park, CA 94025. The firm notes that the office is about a five minute walk from the Menlo Park Caltrain station. It does not list other offices.
When was USVP founded and by whom?
U.S. Venture Partners was founded in 1981. Bill Bowes, Stuart Moldaw and Robert Sackman are credited as its founders. Bowes was also a founding investor in Amgen.
What does USVP invest in?
USVP says it focuses on early-stage startups in enterprise and cloud software, security, consumer and health care. Its health care team invests in medical devices, biotechnology and health care information technology.
How many companies has USVP backed?
The firm's website lists $4.7 billion invested across 542 companies, with 98 IPOs. Its homepage describes a network of 500 companies and 5,000 executives built over four decades.
How do founders contact USVP?
USVP's contact page gives a general email address, a phone number and the Menlo Park office address. It has no application form. Reading the portfolio and team pages first and finding a warm introduction to the right partner is the usual path.