Eight years and $100 million later, most of BigBand Networks' venture capitalists are still waiting. But, they're a lot closer than they were earlier this year.

The triple play infrastructure provider completed an IPO last week selling 10.7 million shares for a total of $139 million. Investors include Meritech Capital Partners, AOL Time Warner Ventures, Charles River Partners LP, Pilot House Ventures Group, Redpoint Ventures, Cedar Funds and Israel's Evergreen Investments.

BigBand's three largest shareholders did not sell shares in the offering. Redpoint is its largest shareholder with a 22.5% stake worth $169 million at the $13 offer price. CRV owns a 19% stake worth $142.8 million, and Meritech Capital owns an 8.5% stake worth $63.9 million. Holding was a smart move. The company's shares soared 31% in the first day and closed today at $17.58 per share.

BigBand's other investors sold modest amounts in the offering. Evergreen Partners sold 734,231 shares worth $9.5 million, but it retained a 5.9% stake worth $44.7 million at $13 a share. Pilot House Ventures sold 690,347 shares worth $9 million and held a 5.6% stake valued at $42 million, while Cedar Funds sold 446,229 shares worth $5.8 million and retained a 4.4% stake worth $33.2 million.

Tags: bigband, redpoint, crv, meritech, vc, venture capital