Partners of OIF Fund - Jerry Stesel, Geoff Levy, David Shein and Laurence Schwartz with the support of Isabell Rich, David Cohen, Anna Osipov, Oliver Darwin and Karen Dorfan have raised a 2nd $100m in 24 hours - largely from original investors.
They have kept the fund small so as to spend significant time with their investees.
OIF have achieved an annual internal rate of return for its first fund of 45 per cent, and 89 per cent for its second fund.
After completing 2 exits and two partial exits to date.
Its first $50 million fund has already been returned to investors multiple times over thanks to
- selling some of its shares in Assignar and EFTsure,
- the $US700 million acquisition of XM Cyber and
- the billion-dollar-odd acquisition of Instaclustr by US cloud tech giant NetApp.
Scoring a 10X return on funds
Other businesses backed by OIF include bot mitigation and automated cyber threat protection company Kasada, software company Clear Dynamics, robotics business Advanced Navigation, and people management software company Enboarder.
Source:- Yolanda Redrup https://www.afr.com/technology/vc-fund-defies-the-downturn-raising-100m-in-24-hours-20220830-p5be14
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