Thursday, October 7, 2010

Ignition Gets Exit At Fat Spaniel

Bellevue-based venture capital firm Ignition Partners has seen an exit in its portfolio, via the acquisition of Fat Spaniel. Fat Spaniel, which makes software used for managing renewable power assets, was acquired by Power-One, a maker of power inverters. Ignition's John Ludwig oversaw the firm's investment in Fat Spaniel, and held a board seat on the firm. Ignition had invested in Fat Spaniel in January of 2008 as part of that firm's Series B funding. Other investors in Fat Spaniel include Applied Ventures, Chrysalix Energy, DFJ Element, Element Venture Partners, and Pacific Corporate Group.