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Venture Capital Firm and Top Player in High-tech Developments Will Open SD Office

SAN DIEGO-Major investor in high-tech start-ups is opening an office in San Diego. Sevin Rosen Funds' expansion to San Diego is viewed as an indicator of region's growing reputation as an incubator for high-tech developments.

By Patricia L. Kirk | Updated on November 23, 2000

SAN DIEGO-A Dallas-based venture capital firm, known as a high roller in funding for technology start-ups, is establishing an office in San Diego. The firm, Sevin Rosen Funds, has already added three San Diego high-tech firms to its portfolio: Optical Micro-Machines, Silicon Wave and LightPointe Communications.

SRF partner Steve Domenik, who will head up the San Diego office, is currently working from San Diego, overseeing the firm’s investments there, but plans to open an office by the end of January, according to a company spokesperson. Two of these firms, OMM and Silicon Wave recently announced plans to go public. OMM manufactures MEMS-based photonic switching subsystems and Silicon Wave produces blue-tooth chips, the basis for the next generation of wireless communication technology.

SRF recently closed an $875 million fund, which the firm plans to invest in companies engaged in new technology development. SRF, which previously bankrolled major technology firms such as Compaq Computer Corp., Lotus Development, DIENA Corp and Cypress Semiconductor, has invested nearly $2 billion in start-ups so far. The firm’s portfolio includes developers of software, semiconductors and computer hardware.

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