Wednesday, October 31, 2007

Shasta Ventures Closes $250M Fund

Menlo Park-based Shasta Ventures said Wednesday morning that it has closed a second fund worth $250M. The firm, which invests in early stage technology companies, said that Shasta Ventures II, L.P. was funded by returning investors from the company's first fund. The company said its limited partners include institutional investors, including unnamed endowments, foundations, pensions and family offices. Shasta's prior fund raised $210M; the fund's exits to date include Logoworks, which was acquired by HP, and iConclude, which was acquired by Opsware. The new venture fund brings the company's total under management to $460M.