Bloc Ventures - Two tech exits and new funds being raised
Since we initiated in September, Bloc has exited two portfolio companies at a premium to holding value, Marmalade (a games developer, sold to LDC for a 4.8x cash return) and EVRYTHNG (an internet of things, IoT, data and real-time insights platform), acquired for an undisclosed price. Bloc has also made a new investment, Shield-IoT (large-scale IoT network security), taking its portfolio to 10 companies. Bloc has strengthened its team and governance with new hires and is actively raising a Series C funding round, as well as an early-stage investment fund (deeptech_one), for which discussions are ongoing with a potential cornerstone investor. Bloc’s later-stage funding options may include an IPO in 2023.
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