AAA Keating writes down Livescribe

Keating writes down Livescribe

The electronic pen company backed by US-based semiconductor company Qualcomm and Presidio Ventures, a corporate venturing unit of Japan-based conglomerate Sumitomo, has been written down by one of its backers, venture firm Keating Capital.

Keating had written down its investment in Livescribe by 66% to $187,988 from $569,316 cost, at March 31, according to the company’s annual report published last month. The write-down was first spotted by news provider PE Hub.

In 2011 Livescribe raised a series C-1 round at $4.5m of a planned $5.2m, according to a filing with the Securities and Exchange Commission.

Qualcomm joined the company’s $39m C round in 2010, which was led by venture capital firm Crosslink Capital, with participation from VC peers Scale Venture Partners, TransLink Capital, Presidio Ventures, Keating Capital and existing investors VantagePoint Venture Partners, Lionhart Investments and Aeris Capital.

The company said in a statement at the closing of the 2010 C round it had raised $100m. Disclosed previous rounds include $7.5m raised in 2009 from Aeris Capital, a Switzerland-based family office on behalf of software founder Klaus Tschira, and $11.1m in its series A round in February 2009 led by VC firm VantagePoint and hedge fund manager Lionhart.

Leave a comment

Your email address will not be published. Required fields are marked *