Ashmeet Sidana closes $60m in capital commitments to fund technical risk

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A long-time Vice Chancellor, who fought through to form Engineering Capital, just closed his third and newest fund with $60 million from a university endowment, a fund of funds, and three foundations.

Sidana  who previously spent nearly nine years with Foundation Capital and received one of his first limited partner agreements  afterward from Foundation’s legendary founder, Kathryn Gould says the fund came together despite the pandemic without too much pain.

That’s thanks in part to Sidana’s track record, including the sale of the cloud monitoring startup SignalFx to Splunk for $1 billion after it raised $179 million from VCs, and the sale of the cloud application monitoring startup Netsil by Nutanix for up for $74 million in stock after it raised just $5.7 million.

Sidana’s day-to-day work in Palo Alto, Calif which centres on working with teams “that you can feed with two pizzas,” yet whose narrow technical insights can have broad applicability was also an apparent draw. To learn more, we talked earlier today with Sidana, a self-described engineering nerd who studied computer science at Stanford about what “technical insights” have caught his attention most recently.

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