SANTA MONICA, Calif.-Clearstone Venture Partners announced it scored a third round of venture capital totaling more than $200 million. The round brings its total capital to more than $650 million.
Clearstone said it will put the funds toward the “next wave of scalable markets,” which include wireless. The firm said it will look for startups that push “new communications models enabled by cheap and fast wireless communications.”
“Having spent over five years making the initial investments in our second fund, we believe this is the best size for our team to focus on early-stage investing,” said Bill Elkus, founding managing director. “We’re driven company builders and have found that early influence tends to fuel sustained success. Already, we have led and completed three early-stage investments since the first close of Fund III: DiVitas Networks, Integrien and SupplyFX.”
Indeed, DiVitas offers products that unite wireless, office and video communications in a common infrastructure.
In other funding news, wireless enterprise company Defywire Inc. said it raised $3.6 million in its second round of venture funding. Intersouth Partners lead the round, and Anthem Capital Management, The Washington Dinner Club, Noblestar Chairman and CEO Paul Opalack, and Defywire’s own chief executive Jill Stelfox participated.
