CMEA pulls plug on $500M late-stage cleantech fund
CMEA Capital has decided against raising a new $500 million fund to back late and growth-stage cleantech companies, Dow Jones VentureWire reported earlier today. The news is interesting for two reasons: 1) It suggests a shift in strategy for CMEA, one of the largest investors in the green space, according to yesterday’s Greentech Media report on the sector; and 2) It may be further proof of cleantech’s rebound from the downturn — venture firms like… Continue Reading
Green investing bounces back from recession
Venture Capital investment in green technology companies has jumped to tie pre-recessionary levels, according to a new report out of Greentech Media. With $1.9 billion spread over 112 deals, this year’s third quarter trounced figures from earlier this year, signaling a stronger than anticipated comeback for the sector, which took a beating during the economic downturn last fall.
To put the recent numbers in context: the second quarter this year saw $1.2 billion distributed across 85… Continue Reading
InSound raises capital to the tune of $2.8M to sell hearing aids
InSound Medical, a manufacturer of invisible hearing aids that can be worn for extended periods of time, has brought in $2.8 million of a targeted $4.5 million round of debt and rights, according to a filing with the SEC. Past investors in the Newark, Calif. company include the Stanford Group, CMEA Capital, De Novo Ventures, Johnson & Johnson Development Corp., Psilos Group, Sightline Partners and Gund Investment.
The company claims that its product, called the Lyric,… Continue Reading
Jobvite takes $8.2M to expand recruiting on social networks
Jobvite, provider of software that helps companies recruit hires via popular social networks, has raised $8.25 million in a second round of funding to continue product development. Based in San Francisco, the company helps its clients create job posts on sites like Facebook, LinkedIn and Twitter, shuttle applicants through interviews and offers, and even leverage their current employees’ social graphs to find the best candidates.
Operating on the theory that employee referrals usually make the best… Continue Reading
Schooner cruises to $20M for data center equipment
Schooner, maker of servers that incorporate both flash memory and multicore processors for high-speed performance, has brought in $20 million in a second round of financing from Menlo Ventures, CMEA Capital and Redpoint Ventures, reports VentureWire.
Based in Menlo Park, Calif., the company says its servers fit into the standard-style rack used by most data centers. It will use the new money to diversify its product portfolio to better target corporate data centers. Its two current… Continue Reading
Blekko raises $11.5M to take a run at Google search
Arguing that Google’s search product is becoming more and more antiquated, stealthy new entry Blekko announced that it raised $11.5 million in capital from U.S. Venture Partners and CMEA Capital to make a splash with its launch — though when that will be remains a mystery. Some at the company say three months from now, others say there is no set date yet, reports paidContent.
So far, the company has said only that it diverges from… Continue Reading
Sans IPO, Bayhill secures $350M in Genentech licensing deal
Months after giving up on its IPO hopes last year — when the market was especially brutal for lifescience companies — Bayhill Therapeutics has landed a licensing deal worth $25 million in upfront cash and equity with Genentech. It could bring in as much as $325 million more if it hits certain sales and regulatory milestones, joining the ranks of several biotech firms that ditched public offerings for lucrative equity deals, VentureWire reports (citing Elixir… Continue Reading
CMEA looks to diversify with three smaller funds
With capital drying up in Silicon Valley and elsewhere, a lot of venture capital firms that fund technology startups are looking to diversify their holdings. In response, CMEA Capital is looking to raise three different funds that are not only smaller than usual, but more specialized in their goals, reports VentureWire.
One fund would exclusively back materials science companies in China, for example. The second would be a cleantech fund specifically focused on funding late-stage companies… Continue Reading
Schooner joins the flash memory battle
A startup called Schooner Information Technology emerged from stealth mode today with the announcement of two new products featuring smaller, cheaper, faster servers built using flash memory chips. The Menlo Park, Calif. startup has also raised $15 million in a first round of venture funding, according to VentureWire.
Schooner says it’s targeting the data centers of social networking sites and cloud computing companies, among others, because it’s crucial for them to store and retrieve their data… Continue Reading
Shell buys bigger stake in biofuel enzyme co. Codexis
In an effort to commercialize next-generation biofuels by 2013, Royal Dutch Shell has taken a bigger stake in Redwood City, Calif. biofuel technology company Codexis. The two companies struck a five-year deal in 2007 that infused Codexis with $30 million and gave Shell a seat on its board. This new deal is said to be roughly the same and nabs Shell another seat.
Codexis doesn’t actually make the biofuels itself. Rather, it engineers the super enzymes… Continue Reading