Clearstone Portfolio Firm Meru Networks Files for IPO

A portfolio firm of Santa Monica-based Clearstone Ventures, Meru Networks, filed for an IPO late Friday night, saying it is looking to go public on the NYSE. The Silicon Valley firm, which is 21.0% owned by Clearstone Ventures, said it would look to raise up to $86.25M in an IPO underwritten by BofA Merrill Lynch, Baird, Cowen and Company, JMP Securities LLC, and ThinkEquity LLC. Clearstone's William Quigley sits on Meru's board of directors. Meru develops enterprise wireless LAN networking products.