Seed-stage startups focused on business-to-business have another source of capital to go after. Monta Vista Capital secured $48 million in capital commitments for its third fund —.
Silicon Valley firm was founded by Venktesh Shukla, angel stage as part of entrepreneurship group TiE Silicon Valley, also serving as a former president. He is the current chair of TiE Global.
Shukla and his group of partners, including Roger Krakoff, general partner, have expertise in the areas of AI, cloud, security and data. team approach investing and often pre-revenue stage. Monta Vista startups infrastructure, vertical SaaS and digital transformation of industries, like mining and textiles.
“We have deep, deep domain experts rely diligence judgment call before make investment,” Shukla told TechCrunch. “And, unlike most seed funds, typically one-person operation fund size, believe investing team sport collectively make decision agility small fund, resources big fund.”
Also setting Monta Vista apart is that firm raise capital institutional investors, rather leverages large network 65 individual investors. Shukla calls network firm’s “secret superpower,” network gives firm deal flow, diligence and portfolio company support. Monta Vista raised $72.8 million across three funds.
Though third fund $48 million, securing capital exclusive. Monta Vista made 12 investments second fund plans invest 15 companies third fund. firm put $1 million $2 million company, Shukla said. This year, Monta Vista track invest companies.
Previous investments include marketing tech company Captiv8, customs clearance company KlearNow Eridan, mobile infrastructure company.
Monta Vista also had successes earlier funds, including API security company Cequence Security, raised Series C 2021, Tekion, automotive retail platform announced $250 million Series D, also 2021. Another is Nyansa, company mobility performance management enterprise wireless networks, acquired VMWare 2020. “It’s fun experience,” Shukla said. “Even doom-and-gloom going on, innovation train stop. Whether it’s times bad times, entrepreneurs compelling ideas, goal find compelling ideas.”