Shasta Confirms It Raised Third Fund, Beats Target in Tough Environment
Four months after peHUB reported that Shasta Ventures was in the market for a third fund, the Silicon Valley venture firm announced today that it has raised $265 million for Shasta Ventures III LP. Thanks to positive IRRs on its first two funds, Shasta came in above target on its third vehicle despite a difficult fundraising environment. Shasta said in a July 15 regulatory filing that it planned to raise $200 million. In an apparent bid to capture the attention of technology entrepreneurs, the early stage tech firm broke the fundraising news on TechCrunch, a popular technology blog. Shasta, based in Menlo Park, Calif., did not issue a press release. Tod Francis -- co-founder of the firm and one of ...
21 September 2011•2 mins read
