Corona del Mar-based venture capital firm Miramar Venture Partners is launching its first-ever “sector-specific fund” this month, with $50 million focused on mobile Internet technology and applications.
Miramar Digital Ventures plans to make “a fairly large number of seed investments, co-investing with angels in the very early rounds of companies, and then follow-on investments in a percentage of companies that hit our internal milestones,” according to Bruce Hallett, a managing director of the firm.
Miramar Venture Partners is among the largest venture capital firms with headquarters or offices in Orange County. It typically invests in early-stage companies in the information technology sector and currently has 24 portfolio companies (see related Special Report: OC Money, page 27; list, page 34).
The firm, which has about $125 million in funds under management, primarily looks for investment opportunities in Southern California. Local investments include Brand Affinity Technologies Inc. and Solarflare Communications Inc., both in Irvine.
“Most of our investments over the last few years have been in storage and networking in digital media, and software-as-a-service,” Hallett said.
