SAN FRANCISCO--- Energy Expert Bruce Pasternack Joins CMEA Ventures as Venture Partner
CMEA Ventures announced today that Bruce Pasternack has joined the firm as a venture partner. Pasternack’s addition is strategic for CMEA’s Energy & Materials investment practice at a time when this sector is experiencing unprecedented growth in investment opportunities and start up investments can benefit from as much experience as possible to meet the market, business, and political pressures they face.
Pasternack brings to CMEA considerable credentials in the energy industry including substantial experience in the government sector as well as in chemicals, pharmaceuticals, and organization and strategic leadership. For almost 30 years, he was a senior vice president at Booz Allen Hamilton Inc., and served as managing partner of both the firm’s energy, chemicals, and pharmaceuticals worldwide business and its organization and strategic leadership practice. He also was managing partner for the firm’s northern California offices and was on Booz Allen’s board of directors. Most recently, he served as president and CEO of Special Olympics Inc. Pasternack has also co-authored two business books, The Centerless Corporation and Results.
In government, Pasternack was the senior energy policy official in the Executive Branch while at the Federal Energy Administration (predecessor to DOE), and was principal staff to the White House Energy Resources Council. He also was on the staff at the President’s Council on Environmental Quality in the Executive Office of the President.
“Bruce brings a unique combination of skills to CMEA,” said Tom Baruch, founder and managing director of the firm. “He has formed deep insights into the energy industry as it has been evolving over the years, including understanding of the important role of the government in the future of the industry.”
In regards to challenges being faced by venture-funded energy and materials start-ups, Baruch explained that the sector is undergoing widespread, rapid evolution that puts significant pressures on entrepreneurial management – a need for constant technical innovation, multi-disciplinary integration of technologies and markets, expansion of the regulatory environment, political maneuvering, popular hype, and internationalization. “Having a team member who both understands the industry dynamics and how to help companies navigate this extreme complexity is tremendously valuable,” Baruch said.
Pasternack has been serving on the board of directors of CMEA portfolio companies, Codexis, a private biotechnology company, and Symyx Technologies (NASDAQ: SMMX). He is also on the boards of directors at BEA Systems (NASDAQ: BEAS) and Quantum Corporation (NYSE: QTM). Additionally, Bruce formerly was a member of the Advisory Council of Stanford’s Graduate School of Business, USC’s Center for Effective Organizations, and Catalyst; he has also served on the boards of Special Olympics, Inc., and Lifespring Home Nutrition.
Pasternack has degrees in mechanical engineering from The Cooper Union, where he is currently a member of its Board of Trustees. He also holds a masters degree in systems engineering and operations research from the University of Pennsylvania.
“With its multi-disciplinary approach to technology investments, as well as its long history in energy, materials, biotechnology, and information technology, CMEA has been at the leading edge of some very important trends,” said Pasternack. “I am excited to have the opportunity to work with such a talented group of people in a time of tremendous growth in this sector.”
CMEA’s strategic focus on energy and materials has led to six investments to date that include A123, cNano, Codexis, Superprotonic, and others. Moving ahead, the firm sees the greatest opportunities to be in transportation fuels, premium power, alternative generation, and energy intelligence. “There are a wealth of investments that uniquely leverage our strengths,” concluded Baruch, “and with Bruce’s addition, we are even better positioned to do so.”
About CMEA Ventures
CMEA Ventures (www.cmeaventures.com) is a venture capital firm focused on life sciences, high technology, and energy and materials investments. CMEA believes that the most successful venture backed companies are science focused, with experienced teams intent on winning. As a result, CMEA's portfolio companies typically have cutting edge, highly differentiated, and often multidisciplinary technology at their core, with founding teams of the highest caliber.
CMEA invests in both early and late stage ventures, and has a strong network of corporate, investment, and entrepreneurial relationships that it leverages on behalf of its portfolio companies. The firm currently manages six funds representing investments in excess of $1 billion. CMEA has been an early stage investor in many leading high technology companies, including Arcadia, Bayhill Therapeutics, Codexis, Entropic, Flextronics (FLEX), Ilypsa (sold to Amgen), Intermolecular, LiveOps, Perlegen, Silicon Spice (BRCM), Superprotonic, Symyx (SMMX), Syrrx (purchased by Takeda), and Xenoport (XNPT).
CMEA Ventures was founded in 1989 and maintains offices in San Francisco and Menlo Park. CMEA’s partners and associates have extensive science, engineering, and operational backgrounds that particularly suit CMEA's focus on technology and teams – an effective differentiator for entrepreneurs and venture investment partners who dare to change the world, one great company at a time.