Siemer Ventures Raises $45M Fund, Becomes Wavemaker Partners

Santa Monica-based Siemer Ventures said Wednesday that the venture capital fund has launched a new, $45M third fund, and rebranded itself as Wavemaker Partners. The new fund is larger than the company's second fund, which was raised in 2011 and was worth $28M. According to Wavemaker Partners, the new fund will be focused on mobile services, Internet, and software. Siemer said it will make around 25-30 new investments globally per year across its focus areas. The announcement came as the firm kicked off its annual summit in Santa Monica this morning.