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 BonanosSee March 27 press release from CMEASee March 2007 post about Gunderson from Tech ConfidentialSee March 17 post on Luminus Devices from Tech Confidential
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