PRINT THIS PAGE US firm CMEA Ventures holds first close on fund VI with $70m in commitments06/11/2003. Source: AltAssets. 
 US early-stage investor CMEA Ventures has announced a first close on its latest fund with commitments of $70m. Fund VI has a target of $250m and will invest across the IT and life sciences sectors.
Founding general partner Tom Baruch said: We are pleased to have gotten so much support from our existing LPs in this first close. I believe we were well received because of our track record.'
In particular, the fund will invest in semiconductors and high performance electronics, enterprise productivity solutions, efficient drug development, and high value pharmaceutical chemistry.
US venture fund raising has continued its steep decline this year since the peak in 2000. Both the number and the value of funds has dropped dramatically, although there are faint signs that this deterioration may be slowing.
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