The Wall Street Journal published an article this week highlighting some of the biggest VC investment wins of recent time, choosing First Round Capital’s stake in Uber as a prime example.
The numbers it has for that are $500,000 invested in 2010, returning proceeds of $2.5 billion, or 5,000x its investment. I saw some slightly different figures in other publications.
Of course, these results came from the WSJ, not First Round. And I’m not sure they recognized that about 40% of First Round shares were sold last year as part of the Softbank offer, according to sources.
Planning for the capital gains on that profit must have been a bear.
Why is Safeguard Scientifics on a planned path to its demise:?
— Tom Paine (@phillytechnews) April 13, 2019