Well here’s a small bit of news before we enter the long holiday weekend: Disney’s investment arm, Steamboat Ventures, has raised a new $85 million fund, according to an SEC filing. The new money will allow Steamboat — and by extension, Disney — to continue making investments in digital media, as the market continues to heat up.
Like other investment portfolios linked to major media conglomerates, Steamboat tends to makes strategic investments in startups that focus on digital video, gaming, and advertising — basically all things that could facilitate Disney’s embrace of digital media. Example companies in its portfolio include content-delivery network Edgecast Networks, encoding technology provider Elemental Technologies, online ad startup FreeWheel, and portable camera maker GoPro, all of which seem to be doing fairly well.
The firm has had its share of successes, such as Playdom, which was bought by Disney for more than $750 million…
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