Thursday, March 19, 2009
Steamboat Gets Big Win With Pure Digital
Burbank-based Steamboat Ventures has seen a big exit in one of its portfolio firms, San Francisco-based Pure Digital, with the announcement this morning that Cisco will pay $590M in stock for the video camera maker. Steamboat is one of a number of venture investors in Pure Digital, which makes the popular "Flip" consumer video cameras. Other investors in Pure Digital are AllianceBernstein, Benchmark Capital, Crescendo Ventures, Focus Ventures, Heights Capital Management, Morgan Stanley, Samsung, Sequoia Capital, and VantagePoint Venture Partners. Steamboat is a venture capital firm whose primary LP is the Walt Disney Company.