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2min chapter
Benchmark Part I
Acquired
The IRR on a $5 Million Fund Is Unreal
A 6.7 million investment turned into four billion dollars in a little over 18 months less than two years The IRR on that is unreal this alone 47 X's their fund. They can't distribute By the time the lock up expires the next spring in 1989 that stake is worth over four billion dollars On an $5 million fund a6.7 million Investment turned into fourbillion dollars in alittle over 18 monthsLess than two years Now remember back to the premium carry Oh boy 30% Remember eBay had obviously a drop but not like a drop to zero or anything So depending on when they got out of certain things at the point that e-boys was published That mark on this fund was 92
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