Share This Story  |   Comments (0)

Sign of the times: CMEA Ventures now describes itself as focused on "energy & materials, information technology, and life sciences," upon the closing of its new $400 million seventh fund.

That doesn't sound much like the focus of CMEA's last fund, a $600 million vehicle closed in September 2004 that targeted semiconductors, high-performance electronics, enterprise productivity and outsourcing technologies, and drug development and related drug chemistry. And although senior partner Maurice Gunderson warned alt-energy enthusiasts not to go overboard with energy and green power investments last year--with the memorable words "suppress your inner lemming"--it's hard not to see a sea change in CMEA's investment profile.

Since late 2006, CMEA has added Gunderson (right) and partner James Kim to scout energy and materials deals, and has completed at least seven fundings thus far. Most recently, it joined Braemar Energy Ventures and Paladin Capital in a $72 million round for LED technology developer Luminus Devices Inc. CMEA, which will celebrate its 20th birthday next year, will continue to pursue both early- and late-stage investments. - Paul Bonanos

See March 27 press release from CMEA
See March  2007 post about Gunderson from Tech Confidential
See March 17 post on Luminus Devices from Tech Confidential

Also From Tech Confidential

• 'You can get a robust return and take care of the planet,' Al Gore tells investors
• Analyst: Software maker Chordiant should seek sale
• ex-Kelkoo CEO rips Yahoo!, blames its culture for failed deal
• Think your portfolio is ugly? Behold Carl Icahn's
• Chipmakers Staccato and Artimi to merge, land $20M in VC

Tech Confidential Home Page

---

Post a comment

Name:

Email Address:

URL:

Remember personal info?

Comments: (you may use HTML tags for style)

Please only click "Post" once. It may take a few moments to process.