Shasta Ventures Raises $300M Fourth Fund

Shasta Ventures, a firm whose investments include Nest, Mint and Turn, announced today that it has raised a $300 million fourth fund.

The firm has now raised more than $1 billion. Each Shasta fund has been larger than the one before it, and Shasta Ventures IV was no exception — the firm raised its $265 million third fund back in 2011.

In an interview with the Wall Street Journal, managing director Tod Francis said the firm will stay focused on Series A and Series B funding, rather than chasing later-stage deals with hot companies: “There is a bifurcation in the market–there’s rocket-ship hot companies and there’s everyone else. There’s a lot of good companies not getting funded.”