Beringea [a $250 million transatlantic VC firm focused on the media sector] invested in eMotion in 2000, along with media giants such as TimeWarner.
The company burned through lots of cash and required more investment, which diluted Beringea's original stake.
Last summer, investment bankers were hired to arrange a sale and in July visual-solutions firm Corbis acquired eMotion for an undisclosed amount.
"The magic hadn't happened and we needed to move on," Bocan [investment director at Beringea] said.
Related: Corbis Acquires eMotion (July 28, 2005)