Deals
Oculus Deal Said to Deliver 20-Fold Return to Spark, Matrix
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Spark Capital invested in Oculus VR Inc. in June after the firm’s partners bought the company’s virtual-reality goggles online. The bet ended in a 20-fold gain following Facebook Inc.’s agreement yesterday to buy Oculus for as much as $2.3 billion, said people with knowledge of the deal.
Spark and Matrix Partners each invested about $19 million in Oculus in two rounds last year, first in June then in December, said the people, who asked not to be identified because the figures weren’t disclosed. The venture capital firms’ stakes are now worth about $380 million each, they said.