Grotech Ventures can thank LivingSocial for an early $200 Million Christmas present.
Venture Capitalists ride a roller coaster that is definitely not for the squeamish. For VCs that means trying to find the next Apple or for that matter Chipotle (CMG) – have you seen where that stock is trading? Accomplish that and you definitely show your investors the money.
Grotech Ventures has certainly accomplished that. Their partnership with LivingSocial (formerly known as Hungry Machine) has turned out to be an enjoyable and extremely lucrative ride. Recently Grotech announced the sale of a portion of their shares in LivingSocial for a whopping $200 Million. peHUB was the first to report the news on the sale of the shares, which has since been confirmed by Fortune.
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