Tenaya Capital’s Two Recent Moves: Cyan Inc (CYNI) And Meru Networks, Inc. (MERU)

Tenaya Capital is a venture capital firm with approximately $750 million under management, which invests in technology segments, including Internet and consumer, semiconductors, communications and software and systems, electronics, and cleantech.

Cyan Inc

The fund has revealed in a couple of filings of its latest moves in Cyan Inc (NYSE:CYNI) and Meru Networks, Inc. (NASDAQ:MERU).

Cyan Inc (NYSE:CYNI), is a $176 million market cap company, which transforms legacy networks into open, high-performance networks. The fund revealed that it owns 3.32 million shares of the company representing 7.1% stake in the company’s common stock. There were no filings to reveal that the fund earlier had a stake in the company.

Of the hedge funds we track Brookside Capital, managed by Bain Capital is the largest shareholder, holding 350,000 shares, worth $3.52 million. Joseph A. Jolson’s Harvest Capital Strategies, initiated a position in the company in the third quarter and is the second largest shareholder, amassing 163,989 shares, with a reported value of $1.65 million. Peak6 Capital Management, run by Matthew Hulsizer, stands on the third spot, with 200,025 shares valued at $2.01 million.

In a separate filing the fund revealed that it owns 192,004 shares of Meru Networks, Inc. (NASDAQ:MERU), significantly down from 948,262 shares held earlier as revealed in a 13G filing in December 2011. The current holding equals 0.8% stake in the company’s common stock.

A couple of months ago Potomac Capital Partners III, L.P. added Meru Networks, Inc. (NASDAQ:MERU) to its equity portfolio via buying 1.17 million shares, representing a 5.2% of the company’s common stock.

Harold Copperman, a director at Meru Networks has been actively buying the shares of Meru Networks in the last year, and has accumulated 333,882 shares until now. While Nicholas Mitsakos, another director has been actively selling the stock and now has 27,754 shares of Meru.

David E. Shaw and his fund, D E Shaw, is a notable hedge fund to mention, who holds 1.4 million shares of Meru Networks, worth $4.6 million in its equity portfolio. Diker Management, led by Mark N. Diker raised his stake by 28% in the third quarter and now owns 1.16 million shares, with a reported value of $3.8 million.

Disclosure: none

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