JMI Equity Raises $875M for Seventh Fund, Sempra Completes Solar PV Plant, Awarepoint Raises $9M, & More San Diego BizTech News

12/6/10Follow @bvbigelow

It was a week for raising money, and software specialist JMI Equity led the way. The private equity firm had plenty of company, though, and we’ve got a rundown here.

JMI Equity, the software investment firm based in San Diego and Baltimore, said last week it has closed its seventh fund after raising $875 million. JMI has traditionally focused its investments on mature software, Internet, business services, and healthcare IT companies.

—San Diego’s Awarepoint, which provides wireless asset tracking technology for use in hospitals and other healthcare facilities, named Jay Deady as president and CEO. Deady said the seven-year-old startup, which combines wireless mesh networking technology with radio frequency identification tags, recently raised $9 million in a combination of equity and debt.

—The U.S. Department of Energy awarded a grant worth more than $2.1 million to San Diego’s On-Ramp Wireless as part of a broader program that’s intended to make the nation’s power grid cleaner and more efficient, reliable, resilient, and responsive. The DOE awarded a total of $19 million in grants to five companies, and the funding for On-Ramp will help support the company’s development of wireless technologies that can monitor power distribution systems that are underground.

—San Diego-based Socialwise has raised nearly $3.5 million of a planned $4 million offering, to support its development of Web-based system that enables parents to monitor and even control their kids’ spending habits.

—A two-year-old San Diego startup, MicroPower Technologies, closed its Series B round of venture funding by raising $2.2 million from a variety of investors. The company is developing energy-efficient wireless video surveillance cameras for use by public safety, government, commercial, and small-to-medium business customers.

—San Diego-based Grid2Home, a year-old startup developing software for two-way data communications in “Smart Grid” applications, has raised $400,000 of a targeted $500,000 securities round.

Sempra Generation, a power generation subsidiary operated by San Diego-based Sempra Energy (NYSE: SRE) completed construction of the largest U.S. photovoltaic solar power plant. The 380-acre Copper Mountain Solar plant in Boulder City, NV, provides about 48 megawatts of electricity for Pacific Gas & Electric, the Northern California utility.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788 Follow @bvbigelow

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