corn18
Thinks s/he gets paid by the post
- Joined
- Aug 30, 2015
- Messages
- 1,890
My best friend referred me to a private equity group and I invested 5% (at the time) of my retirement savings into a startup group developing a new drug. I got in phase I. They have just gotten phase II approval from the FDA and designated a breakthrough drug. No other drug does what their's does. They are doing another round of funding to complete phase III. They expect to complete phase III early next year followed by an equity event. They don't make drugs, they are just a developer. They start a new company each time they develop a new drug specifically to get bought.
I have never included this money in my spreadsheets. So it doesn't really exist. Their last equity event was 20x. That would be bonkers. But just getting the money I put in back would be fine. 20x would be a lot of money.
I have never included this money in my spreadsheets. So it doesn't really exist. Their last equity event was 20x. That would be bonkers. But just getting the money I put in back would be fine. 20x would be a lot of money.