The venture capital beneficiary of Google's $23 million acquisition of in-game advertising startup Adscape Media last week isn't based in the normal locale. Usually, the money from a deal involving a Silicon Valley acquirer and a San Francisco startup target would flow back to Sand Hill Road. But, in this case, it's going closer to Tobacco Row; all the way to Miami and Atlanta.
That's where H.I.G. Ventures is based. The venture capital affilate of private equity firm, H.I.G. Capital, invested $3.2 million into the startup last year and is being rewarded with a quick return. Adscape CEO Chris Gilbert credits the firm with helping him build a strong team that had both technical and gaming experience. The combination seems to have worked.
Tags: adscape, google, m&a, vc, venture capital
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