Calibrate Ventures, a Pasadena, CA-based venture capital firm focused on backing transformative companies across the consumer and enterprise sectors, closed its inaugural fund, with nearly $80 million in total capital commitments.
Calibrate Ventures, L.P., received commitments from institutional investors, including Shea Ventures and Foundry Group. The vehicle partners with founders of early revenue startups to accelerate growth, drive commercialization, and maximize potential through financing and expert operational guidance.
The fund typically targets an initial investment of $5m in companies generating revenue between $1m and $5m. The portfolio is currently comprised of:
– Built Robotics,
– Embodied, and
– Soft Robotics.
The firm was founded in 2017 by Kevin Dunlap and Jason Schoettler, who previously served as Managing Directors at Shea Ventures, focusing on early and growth stage venture-backed companies. They have led investments in five $1 billion-plus exits including Chegg, Dollar Shave Club, Ring, ServiceMax, and SolarCity.
Prior to Shea Ventures, Mr. Dunlap was an aerospace engineer working at the Jet Propulsion Laboratory (JPL) in New Mission Design and Moog in Launch Systems. Mr. Schoettler previously served in an operating role at Oak Grove Systems, an enterprise software spin-out from JPL and CalTech, and as a management consultant at Ernst & Young.