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Two of Peter Fenton's Startups -- Hortonworks and New Relic -- Will Go Public Next Friday

On paper, the venture capitalist stands to make nearly $350 million in a single day.

Courtesy Benchmark

Next Friday is going to be big for venture capitalist Peter Fenton, as two of the highest-profile investments in his portfolio will be going public on the same day: Dec. 12.

While the dates of public offerings have been known to be fluid, sources close to both companies are not disputing entries on the Nasdaq website saying that Hortonworks and New Relic will both debut for trading on that day.

Hortonworks, a big-data software company, disclosed its plans on Nov. 10 to raise $100 million in an IPO. It will trade under the ticker symbol HDP. The offering values Hortonworks at about $800 million. New Relic, a cloud-based software platform for analyzing data and tracking the performance of software, filed to raise $95 million in an IPO, trading under the symbol NEWR, in an offering worth about $875 million. That’s a good deal lower than the $1.3 billion valuation New Relic got in April with its last round, which included investors BlackRock and Passport Capital. They could end up losing money on the IPO.

Fenton led the investments by Benchmark Capital into both companies and sits on both their boards. Benchmark controls about 22 percent of New Relic’s shares, a stake worth about $193 million. New Relic CEO Lew Cirne controls about 27 percent.

Benchmark’s stake in Hortonworks amounts to about 19 percent, worth about $152 million. Yahoo, the company from which Hortonworks spun out, is its largest shareholder with a stake amounting to about 20 percent.

Updated: New Relic’s previous $1.3 billion valuation before IPO.

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