Siemer Ventures Changes Name, Announces Third Fund
July 17, 2014
Tech-focused VC firm Siemer Ventures has changed its name to Wavemaker Partners and has announced that it is raising a third fund, which has a target of $45 million. The new fund, reportedly close to halfway to its target, will be significantly larger than its predecessor, a $28 million vehicle that closed in 2011. Fund III will continue to follow the firm's investment strategy of investing in early stage enterprise and consumer-facing businesses in the mobile, Internet and software sectors. With a geographic focus on California and Southeast Asia, Wavemaker will use the new vehicle to make about 25 to 30 late seed or early stage investments per year, ranging between $150,000 and $1,000,000.