Twitter’s initial backers set to make returns worth more than double their entire funds
Three firms, Union Square Ventures, Spark Capital and Benchmark will be amongst the major beneficiaries of the Twitter £9.5 billion flotation. Two of them will more than double their entire fund on this investment alone.
Union Square’s £534 million, Spark Capital’s £619 million and Benchmark’s £606 million holdings – based on a Twitter share price of £19 per share – have produced phenomenal results. These figures, however, also exclude the firms’ secondary share sales.
Here, indeed, is something to tweet about. The bosses of these firms will no doubt be crowing.
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Another white elephant.