Disney Venture Capital Arm Invests in Software Firm

Steamboat Ventures, the venture capital arm of The Walt Disney Co., was among the investors in a round of funding for software developer Baynote. Steamboat and others contributed $13 million that will be used by Baynote to enter high-growth industries such as telecommunications and financial services. The funding round was led by SingTel Innov8, the venture arm of Asian telecommunications company, SingTel Group. Baynote has developed software that can automatically adapt to evolving customer needs with the most useful content and offers.