We share a bi-weekly snapshot of the latest news in alternative investments.
Just last week, Etsy, a startup company based in NYC, hit a new milestone with its blockbuster IPO of $1.8 billion valuation, becoming the largest venture-backed exit in the NYC tech scene. Right after the shares began to trade, the company’s value reached close to $3.5 billion with its price reaching to $35 per share (the initial price was at $16 per share). WSJ reports that Etsy was able to raise $267 million in IPO proceeds. The biggest winners of this IPO, however, were the venture firms that invested in Etsy. According to Silicon Valley Business Journal, Accel Partners and Jim Breyer own 22 percent stake in the company, which is worth around $750 million (this value has changed since the report)
Every VC firm dreams for this kind of huge exits. Their goal is to capture the few opportunities that can generate enough returns to out-shadow all other investments. The recent macro environment of low interest rates and bubblish stock market has played in favor for the VCs, which resulted in overall increase in the tech company exits. Investors with high-risk appetite can perhaps take advantage of this macro trend and the burgeoning NYC tech scene by investing in early stage VC firms that are looking for the next Etsy.
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