San Francisco-based venture firm SherpaVentures said Thursday that it has raised $154 million in the final close of its oversubscribed debut fund. The focus will be on early-stage tech companies, particularly those in the ecommerce, software and digital media sectors.
Related video: Shervin Pishevar talks Sherpa and the art of VC
Commenting on the fundraising, Scott Stanford, managing partner of SherpaVentures, said: “We are thrilled and honored to team with talented and dedicated founders as well as to work with our engaged limited partners.”
The firm, which was founded last year by Stanford and fellow managing partner Shervin Pishevar, has so far participated in a number of seed, Series A and Series B fundings. Some of their investments include Munchery, Storehouse and BackOps.
Previously, Pishevar was a managing director at Menlo Ventures while Stanford was a managing director for Goldman Sachs.
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