Meritech Adds A New Partner

Meritech Capital Partners, a Palo Alto, Calif., venture-capital firm that focuses on investing in “later stage” privately held tech companies, is adding a new managing director.

The new hire is Craig Sherman, formerly CEO of online community Gaia Interactive and a onetime executive at Ancestry.com. The 43 year old, who previously has made angel investments in companies such as ZipCar and Zillow, says he is joining Meritech to focus on investments in Internet companies and digital media. His hiring brings Meritech’s total number of partners to five.

Sherman is joining Meritech on the heels of the firm closing its newest fund, which is a $425 million vehicle. Meritech is one of the few venture outfits that focuses solely on late-stage, pre-IPO investments. In 2006, Meritech invested in Facebook, for instance. The firm has also invested in companies such as Fortinet, ZipCar, Salesforce.com and others.

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