Edison Venture sells two stakes

Edison Venture Fund of Lawrenceville, NJ, announced yesterday that they have sold their stake in CambridgeSoft, a Cambridge, Massachusetts-based provider of software for the life sciences industry, back to the company. Edison says it received $40 million on a $5 million investment; 11x its initial investment and 3x a follow-on investment in CambridgeSoft. The Wall Street Journal's Venture Capital Dispatch dicusses Edison's exit strategy.

This follows an announcement earlier this week that Edison portfolio company TrueCommerce of Cranberry Township PA (near Pittsburgh), a supply chain software firm, had been acquired by HighJump Software of Eden Prairie, Minnesota. In that deal, the terms were not disclosed, but Edison said it received (pdf) a 4X return on investment and achieved a 30% IRR, which in VC terms is OK but not outstanding.




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