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FINAVES SELLS NEXENTA TO VC/PE FUNDS AND MULTIPLY BY NINE ITS INITIAL INVESTMENT.
Finaves, the VC/PE fund promoted by IESE, has closed in Silicon Valley the most profitable deal of its twelve year of history.
This is the sale of Finaves III fund stake in Nexenta, a firm based in Palo Alto and specialized in cloud computing, to venture capital funds Javelin Venture Partners, TransLink Capital Partners, Razor's Edge Fund and Sierra Ventures. The first two were already in the shareholding, whereas the rest joins at this financing round.
The entry of Finaves III took place in 2009 with a €235,000 investment, multiplyed almost nine times compared to €2.1 million raised from the sale, achieving a 793% return. Two founders of the company, Evan Powell and Alex Aizman have also sold their shares.