CMEA Ventures raises $400M fund, to target energy and other science start-ups

CMEA Ventures has finished raising its seventh fund, at a total of $400 million, and will invested the money in energy (including clean-tech), information technology, health care and materials companies.

The firm prides itself in investing in companies having deep science and intellectual property.

The firm said last year it was targeting a $400 million fund. Thomas Baruch continues to lead the fund, and he is joined by partners Maurice Gunderson and James Kim. Other investment professionals include Bruce Pasternack, Michael Melnick and David Tuckerman.

VentureWire reports more details, including the following about the firm’s most recent, sixth fund:

Successful companies from the sixth fund include Ilypsa Inc., which was acquired by Amgen Inc. for $420 million in cash in 2007. Others that have not exited but seen significant growth include virtual call center company LiveOps Inc., in which CMEA participated in a Menlo Ventures-led $22 million Series B in 2003. LiveOps received a $28 million Series C financing in February 2007 led by Benchmark Capital with participation from CMEA and Menlo Ventures, which gave LiveOps a post-money valuation of between $250 million and $280 million, VentureWire previously reported. Another portfolio company from the sixth fund, semiconductor testing company Intermolecular Inc., which was funded with $36 million from CMEA and others, emerged from stealth last year and said it expected about $20 million in revenue in 2007.

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