Santa Monica Westgate Co-Investment Opportunity

Santa Monica Westgate was fully exited at end of December 2020. Gross multiple on investment was 1.6 times with an IRR of 10.9%

phishme logo

In January 2018 Phishme was acquired by a syndicate of investors including BlackRock and Pamplona for $400M.
Major co-investors included Paladin Capital Group, Bessemer Venture Partners, Phoenix International Investments LLC, and Aldrich Capital Partners
our investment in Phishme was held for approximately 18 months resulting in the following performance:

Initial Investment Date: 7/21/2016
Amount Invested: $5.7 Million
Realized $15.6 Million
Gross IRR: 88.16%
Multiple on Investment: 2.77X

10X Genomics logo

In 2018 Phoenix and a group of our investors participated in a Pre-IPO round of the company’s stock at a gross price of $9.75 per share. In September 2019 the company listed its shares at a price of $32 per share. Our group of investors were part of a lock up which expired during the month of March 2020. At the time of our receiving our shares, we had a 6X return on our investors in less than 2 years, resulting in an approximate net IRR well in excess of 140%.

The majority of our investors, including Phoenix, chose to retain the shares which,  as of June 15th 2020 are trading at over $83 per share