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AltAssets is the private equity news and research service from Almeida Capital
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PRINT THIS PAGE CMEA Ventures closes seventh fund on $400m27/03/2008. Source: AltAssets. 
Californian venture capital firm CMEA Ventures has closed its seventh fund, CMEA Ventures VII, on $400m. Investors in the fund included Guardian Life Insurance Company. The new fund will continue the firm's focus on energy and materials, IT and life sciences.
Jim Watson, managing director, CMEA, said, 'The great challenge in venture capital today is finding truly disruptive opportunities. We strongly believe that among the best and most interesting investments are those with a great team and very complex technology across various disciplines and markets; this is our key focus for CMEA VII.'
CMEA founder Tom Baruch added, 'Technologies - particularly in IT, energy & materials, and life sciences - have matured to the point that future disruptions will come principally from applying technology in unusual and unexpected ways, such as biotech in energy, IT in life sciences, and material sciences in both energy and IT. This is why multi-disciplinary investing is a key thrust of our new fund.'
CMEA closed its sixth venture fund on $300m in 2004. The closing of the new fund brings CMEA's total funds under management to over $1bn.
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