Buying all Wiz’s $ 32 billion from Parental Alphabet Google promises a colossal salary for starting to start online security.
The deal is a big win for Sequoia, one of the most popular VC firms, which will make $ 3 billion, about 25x money invested in the company, Bloomberg reported. Despite considerable returns to Sequoia limited partners, their percentage profits will be much less than those of another early WIZ supporter: Israel -based VC Cyberstart.
Internet -focused Ciberstarts invested $ 6.4m from its first fund $ 54 million to the WIZ seed round in February 2020.
Today, that fund owns 4.1% of WIZ, which means it is ready to make a $ 1.3 billion in agreement, according to a person known for the firm’s performance. Ciberstarts also previously sold $ 120 million in WIZ shares in secondary transactions, bringing the total fund return to $ 1.42 billion – a wonderful 222x return to the original investment.
Ciberstarts also participated in the rounds of the later phase of WIZ, investing a total of $ 40 million from his opportunity fund. These investments are now worth $ 128 million, a more modest 3.2x return to the invested capital, a person known for Cyberstarts’ performance told Techcrunch.
“The Ciberstarts will have one of the best return funds in the history of QV,” Shai Goldman, a partner in NYC of Next, wrote in X. “This investment was made by their inaugural fund, a good memory that fund 1 may be amazing to return like an LP.”
The Ciberstarts was not an ordinary developing VC manager when it closed its inaugural fund in 2018. The firm was started by Gili Raanan, who previously spent nearly nine years as a general partner of Sequoia running its investment strategy in Israel.
The small $ 54 million fund has already reached a 26X multiple in its limited partner capital. And that is not counting other possible exits, such as the island, a startup reported to increase capital in a $ 4.5 billion estimate.
The Ventures Index, which owns a 12% stake in WIZ, is ready to make over $ 3.8 billion after the sale is complete, Reuters reported.
