Benchmark Capital, the venture capital firm whose partners include former Esat Digifone chief Barry Maloney, has made a multi-million-pound return on an investment in Britain.
The funder sold part of its stake in online betting exchange Betfair to Softbank, a Japanese internet group. Softbank has bought a 23 per cent stake in Betfair from some of the company’s existing investors, including Benchmark, for stg£355 million.
The deal valued Betfair at stg£1.54 billion. Maloney...
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