Alphabet's $32 billion Wiz deal promises windfall for VC backers

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Alphabet's $32 billion Wiz deal promises windfall for VC backers - Channel News Asia

Quick Summary:

The venture capital firms that invested in cybersecurity firm Wiz, which agreed to a $32 billion buyout by Google's parent Alphabet, stand to reap returns as high as 200 times for seed investors, among them Sequoia Capital, Cyberstarts and Index Ventures.

When the team founded Wiz in 2020, Cyberstarts, Index Ventures and Sequoia were quick to invest.

After committing more in later rounds, it now owns about a 10 per cent stake in Wiz and could reap $3 billion from the sale, sources said.