Another good exit was recently turned in by low-profile investors. Seagate's $185 million purchase of online backup startup eVault last week benefits four firms I'd never heard of before. They are Council Ventures, Massey Burch Capital, The Business Engineering, Science & Technology Discoveries Fund and River Cities Capital Fund.
Founded in 1997 and claiming annual revenue of $25 million now, eVault raised $19 million in venture money from its investors. It's unusual that the Emeryville, Calif.-based startup raised money from firms far from the Bay Area. Council and Massey are based in Nashville, B.E.S.T. is in Canada and River Cities is based in Raleigh.
It's not the first time this year, little known venture capitalists have benefited from one of the bigger exits.
For more on eVault, see:
Drunken Data
The Deal
Good Morning Silicon Valley
Tags: eVault, Seagate, m&a, vc, venture capital











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