Beringea Exits Saffron Digital in $48M Deal

The funds ProVen VCT and ProVen Growth & Income VCT, which are managed by venture firm Beringea, have exited their stakes in Saffron Digital, a developer of video delivery platforms, the firm announced. HTC Corp., a designer of smart phones, bought the company for 30 million pounds ($48 million). With the deal, the funds saw a multiple of 5.8 times the cost of the original investment, generating an IRR of 65%.

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