Venture development organizations (VDO), nonprofit organizations across the country investing in innovation startups to help grow their regional economies as well as earn a respectable return, saw at least 20 exits in the first quarter of 2018, based on data entered on Pitchbook.com. Here are some examples from the quarter:
A spinout of the Carnegie Mellon University Endowment, Pittsburgh-based Wombat Security Technologies has been acquired for the sum of $225 million to become an operating subsidiary of Proofpoint. Among the nine exiting investors, who injected a combined total of $11 million into the firm since 2011, are Idea Foundry, Innovation Works and Riverfront Ventures. Idea Foundry also was an exiting investor during the quarter resulting from the acquisition of Zulama by EMC Publishing.
