Calibrate Ventures, a Pasadena, CA-based venture capital firm, raised US$73.525m for its first fund.
Per an SEC filing, 60 unnamed investors have invested in the offering Calibrate Ventures, LP, whose final target is US$100m.
Co-founded by Kevin Dunlap & Jason Schoettler in 2016, Calibrate Ventures is an early stage venture capital firm investing in the areas of Connected Platforms, Consumer, and Enterprise SaaS. The firm initially invests $5m in companies generating revenue between $1m and $15m.
Prior exited investments made by the partners include Chegg, Dollar Shave Club, Ring, ServiceMax, SolarCity, and VictorOps. Current investments include Alpha, Built Robotics, and Soft Robotics.
Kevin Dunlap served as a managing director at Shea Ventures, the alternative investment arm of the Shea family. Prior to Shea Ventures, he was an aerospace engineer working at JPL in New Mission Design and Moog in Launch Systems. Dunlap sits on the boards of Broadly, Soft Robotics and Top Tier Capital Partners with other recent investments in Gain Credit, Madison Reed, Moxie Software, and RichRelevance. He holds a BSME from the University at Buffalo, and he received his MSFE from Claremont Graduate University.
Jason Schoettler served as managing director at Shea Ventures. He joined Shea Ventures after serving in an operating role at a JPL/Caltech enterprise software startup, and he started his career as a management consultant with Ernst & Young (Cap Gemini). Currently, Schoettler sits on the boards of Embodied, Filld and Sphero. Other recent active investments include 3DR, Alpha, Built Robotics, FullContact, Hatch Baby, Occipital, Osmo, Sun Basket, VictorOps, WX Brands, and Yesware. He holds a BA from the University of Notre Dame, and he received his MBA from Claremont Graduate University.