Tech
Rapido delivers 111x return on AdvantEdge’s initial investment
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Rapido has become the largest contributor to AdvantEdge Founders Fund I, which reported an 11.5x MOIC (multiple on invested capital) and over 3x DPI (distribution to paid-in capital).
A recent partial exit from Rapido delivered a 67% IRR (internal rate of return) and a 111x return on the investment first made in 2016, AdvantEdge said in a press release.
An ET report added that this includes a $28 million partial exit from Rapido, against an initial investment of about $2.5 to $3 million in the Bengaluru based startup.
The development follows recent…
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