Siemer Ventures, the venture capital arm of Siemer & Associates, has announced that it grew its portfolio by 24 companies last year.
The Santa Monica firm, which typically invests between $150,000 and $350,000 in early stage tech companies, funded event venue startup Eventup and crowdfunding platform Invested.in, among others.
The VC now has 39 Internet and mobile companies in its portfolio.
Siemer also announced that it had its first exit from its current fund, Siemer II, which began in 2011.
CloudTrigger, an Encinitas company that provides cloud-based consulting for customer relationship management, was acquired by Cloud Sherpas, an Atlanta cloud company also working in the CRM industry.
Terms of the sales were not disclosed, but David Siemer, founder of Siemer & Associates, said that investors had a nice return on the sale.
“It’s a great company and it ended up being a brilliant investment,” he said.
Siemer was part of CloudTrigger’s 2011 fundraising effort, which brought in $700,000.
Anderee Berengian, a CloudTrigger board member and managing partner of investor RezVen Partners, said the company had not been looking for such a quick exit.
“It just turned out that there was a lot of interest in this space,” he said. “There were a few acquirers that expressed interest in buying them. We realized it was a good time for it.”