Shasta Ventures unveils sixth fundraise with sights on $325m


Early-stage investor Shasta Ventures has returned to market with a new VC fund aiming to raise up to $325m.

The firm has yet to register any capital commitments to Shasta Ventures VI, as shown in documents submitted to US regulators.

It shows that the firm expects to complete the fundraise within the next 12 months, however.

The firm is focused on backing enterprise, consumer, and emerging platform companies, according to its website. Shasta portfolio includes start-uAll Postsps such as Turo, Vector Space and Timehop.

Shasta targets Seed and Series A rounds, typically making eight to 10 investments per year.

It has been three years since the firm registered the fund predecessor with eyes on $300m, but it is unclear on how much that vehicle eventually closed.

Shasta’s fourth fund received strong support from previous investors, and outstripped the $265m it gathered for Fund III in 2011.

Shasta was founded in 2004 and has more than $1bn in assets under management.

In September 2017, the VC unveiled a new camera fund to invest in companies utilising augmented reality, virtual reality and camera-first computer vision applications.

That same year, the California-based firm named Marketo co-founder and ex-CEO Phil Fernandez as a venture partner.

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