Shea Ventures Backs SolarCity

Shea Ventures, the venture capital arm of Orange County homebuilder Shea Homes, has boosted its solar installation partner SolarCity, as part of an $81M equity investment in SolarCity. According to SolarCity, the big funding round was led by The round was led by Silver Lake Kraftwerk and Valor Equity Partners, and also included Nicholas J. Pritzker, partner at Tao Ventures and senior development advisor for Hyatt Hotels Corp., in addition to Shea Ventures. SolarCity is an installer of residential, commercial, and nonprofit solar panels. Shea's clean technology investments also include Camarillo-based Cool Planet Biofuels. More information »