VSP Capital continues to steadily earn profitable exits despite internal turmoil that led to partner departures and lawsuits last year.
Its latest exit came when chipmaker LSI Logic purchased enterprise storage semiconductor designer SiliconStor for $55 million. The 30-person startup raised a $9 million series B round in 2005 from VSP Capital and APV Technology Partners and a $3 million series A from individual investors before that.
Last year, the firm earned a $9 million net return when video search engine Truveo was purchased by AOL for about $50 milllion. VSP Capital had invested $750,000 into the startup and was its only venture capital investor.
Hard to say what's next for the firm's portfolio. Fon is getting a lot of attention but has a lot of work to develop its business. What is certain is that it's surprising that a firm accused of so many wrongdoings can continue to do so well.
Tags: vsp+capital, lsi, siliconstor, vc, venture capital
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