Tuesday, June 5, 2012
Shea Ventures Gets Exit At Quickoffice
It looks like the venture capital business is doing a lot better than the home building industry for Walnut-based J.F. Shea. The homebuilder, which also runs a venture capital arm call Shea Ventures, just scored an exit from one of its portfolio firms, mobile app maker Quickoffice. Quickoffice was just acquired by technology giant Google, undoubtedly to bolster Google's mobile application chops. Quickoffice develops a heavily used set of mobile apps for iPhone and Android to help users access common office document formats. Shea was an investor in Quickoffice along with Access Industries, Advantage Capital Partners, Mayfield, and Shepherd Ventures; the firm also has invested in such companies as SolarBridge, Cool Planet Biofuels, SolarCity, and Fabrinet. J.F. Shea's headquarters are in Walnut, California, just East of Los Angles.