Shasta Ventures raises $200 Million

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Shasta Ventures raises $200 Million
Santa Clara: Shasta Ventures, an early stage venture firm, has raised $200 million dollars. This is a growth fund intented to support start-ups, reports VentureBeat. Rob Coneybeer, Tod Francis and Jason Pressman are involved in the pooled investment fund. When the company started investing $210 million in 2005, they pooled in their first round of funding. They raised another $250 million in 2007 to continue early-stage investing in technology companies. Recently, the company invested in Crittercism, which is a tool that developers use to track problems in their mobile apps, along with Google Ventures and Kleiner Perkins. The other portfolio companies where they invested are Spiceworks, TaskRabbit and LiquidSpace. Shasta was formed to back brilliant entrepreneurs with an unwavering commitment to the customer experience. They feel that a customer-centric approach is particularly important in this age of social media. Ravi Mohan, the Managing Director of Shasta Ventures, has focused his entire career on the software business. He was a general partner at Battery Ventures, where he led eight investments and served on the boards of 12 software and technology-enabled service companies. Prior to this, he built transaction-processing systems at Accenture, sold and implemented software applications for Hyperion Software and ran MIC, a software development firm based in India focused on selling business-intelligence solutions to multinational corporations. He is active in entrepreneurial circles and helped found the Silicon Valley chapter of the Indian Venture Capital Association (IVCA) to leverage entrepreneurial activities between India and U.S. He also serves on the corporate-advisory board for the Ross School of Business at the University of Michigan, where he earned his MBA. He also holds a BS in operations research and industrial engineering from Cornell University. At Shasta, he continues his focus on software, particularly technology-enabled services, virally adopted software, business intelligence and data-centre automation.

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