Stratim Capital, a San Francisco-based direct secondaries firm, has acquired an equity stake in Linden Lab, maker of the Second Life virtual world, peHUB has learned. Details are scarce, except that the seller is not one of Linden Lab’s institutional investors.
“It is true,” said Stratim managing partner Zach Abrams, when I called him for confirmation. “We bought almost the entire position of an existing shareholder… I don’t think this is a company that anyone will be able to put new money into, because it doesn’t look like it will need to raise another VC round.”
Linden Lab has raised around $19 million in VC funding, from firms like Benchmark Capital, Catamount Ventures, Globespan Capital Partners and Omidyar Network.