Saints Capital goes marching in, buys startups

When venture capitalists get desperate, they may appeal to Saints.

Founded with $11 million just before the Internet bubble exploded at the beginning of the millennium, Saints Capital http://www.saintsvc.com/ has become a $1.3 billion colossus by snapping up the assets of strapped venture funds, limited partners and other investors in alternative assets, often at pennies on the dollar.

Now, with the nation in recession, history is repeating itself, and Saints is buying baskets full of startup companies from investors seeking liquidity and freedom from ongoing cash-call commitments.

Full Story: http://eastbay.bizjournals.com/sanfrancisco/stories/2008/12/22/story3.html?b=1229922000^1750813