CMEA Ventures has quietly changed its name to CMEA Capital. Jim Watson, a CMEA managing director, says the move was made to better reflect the firm’s plan to broaden its investment strategy. It will continue doing early stage deals, but also plans growth-stage and other sorts of funds in specific sectors.
For example, CMEA is currently raising a Green Growth fund, and soon could do similar things in spaces such as IT or healthcare. CMEA historically has invested around 75% of its capital into early-stage deals, with the remainder going to growth or late-stage opportunities.
“It’s all about how you attract the best talent,” Watson says. “You could do one big fund, or look for people to come in and fund a more specialized fund. We debated both sides of it, and decided you could get the best people with specialized funds… And with what’s going on in the investment community, there is a lot of talent available. We’ll be opportunistic.
CMEA is currently investing out of a $400 million early-stage fund raised in 2007.