Late stage investment firm Stratim Capital has picked up an undisclosed stake in Second Life parent company Linden Lab — buying out one of the virtual world tech firm’s existing investors. Linden Lab has raised about $19 million in funding since its inception in 1999; investors include Benchmark Capital, Catamount Ventures, Globespan Capital Partners and Omidyar Network, among others. Stratim Managing Partner Zach Abrams told peHUB that the firm had “bought almost the entire position of an existing shareholder,” though he didn’t disclose the amount, or which investor it was; he would only confirm that it wasn’t a VC firm.
Linden Lab hasn’t raised funding since 2006, and this latest investment comes a few months after the company made acquisitions of it own: buying out two virtual goods marketplaces to make more profit from Second Life’s thriving virtual economy. It also comes as comes as Linden Lab’s restructured executive team settles in, since a number of long-time vets (including CFO John Zdanowski) departed earlier this year.