Pasadena Venture Capital Group Said It Closed Inaugural Fund with Nearly $80 Million in Capital Commitments

Published : Wednesday, December 12, 2018 | 5:48 AM

Company Partners Kevin Dunlap and Jason Schoettler. Courtesy image

A venture capital firm based in Pasadena says it has successfully closed its inaugural fund with nearly $80 million in total capital commitments.

Calibrate Ventures, L.P., which supports transformative companies across the consumer and enterprise sectors, said it has received commitments from institutional investors, including Shea Ventures and Foundry Group.

Founded in 2017 by veteran investors Kevin Dunlap and Jason Schoettler, the company partners with early revenue startups to accelerate growth, drive commercialization, and maximize potential through right-sized financing and expert operational guidance.

“We are pleased with the support we received from a high-quality investor base in closing our first fund as we continue to help pioneering companies and their founders bridge the gap between idea and opportunity,” Dunlap said. “Having made five investments since launching the firm, we are off to a strong start and are excited by the numerous near- and long-term opportunities ahead.”

The firm typically targets an initial investment of $5 million in companies generating revenue between $1 million and $5 million. Currently, Calibrate’s portfolio include Alpha, Broadly, Built Robotics, Embodied, and Soft Robotics.

“Investors and founders today are both looking for an edge,” Schoettler said. “At Calibrate, we have built an influential network of entrepreneurs and partners, bring a unique approach to identifying attractive investment opportunities and strive to apply our rigorous process and values to each company we support.”

Foundry Group founder and Managing Director Brad Feld said they have worked alongside Dunlap and Schoettler as co-investors and have deep confidence in their strategy and investment approach.

“We look forward to continuing our successful relationship as limited partners in Calibrate’s fund,” Feld said.

Dunlap and Schoettler served as Managing Directors at Shea Ventures for over a decade before forming Calibrate. Dunlap was an aerospace engineer working in New Mission Design and Moog in Launch Systems at the Jet Propulsion Laboratory in Pasadena.

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.

To learn more about Calibrate Ventures, visit www.calibratevc.com.

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