Shasta Ventures is promoting three of its principals to partner. Nikhil Basu Trivedi, Jacob Mullins and Nitin Chopra have all made it to this coveted venture capital milestone.
Shasta has about $1.3 billion under management across its five funds. Notable exits include Dollar Shave Club, Nest, Apptio, SteelBrick and Skycure.
The group likes to invest in Series A rounds and places a particular focus on enterprise, consumer and emerging technology like virtual reality. Each of its new partners has an expertise in one of these categories.
Basu Trivedi has been looking at consumer opportunities, with a particular emphasis on subscription commerce. He currently sits on the board of The Farmer’s Dog and previously co-founded Artsy.
Mullins, who founded Exitround, has been very active in the VR and AR space. He’ll also be looking at emerging categories like the connected home and robotics. Mullins sits on the board of Camera IQ.
Chopra has carved out a niche in enterprise software and also invests in big data. He’s on the board of SlamData and previously worked for BlackBerry at RIM.
Team Shasta believes that it’s important to “bring people up in the culture of the firm and move people along,” said Rob Coneybeer, co-founder and managing director at Shasta Ventures. “We’re really excited about these folks.”
At many venture firms, promotions to partner are rare. The associate job is often described as a “two-year gig,” where the typical next steps are business school or a role at a portfolio company.
Titles differ from firm to firm, but those who make it to principal usually have a better shot at reaching partner status.
Shasta was founded in 2004 and makes investments across the United States. In addition to San Francisco, the group has been looking at opportunities in Austin, Denver, Seattle and New York.