Advent exits Vitrue to Oracle

The trade sale marks the fourth exit in less than 18 months for Advent Venture's tech portfolio and the seventh exit overall from its £128m Advent Private Equity IV fund (which is shared by the tech and life sciences teams), generating total proceeds of £164m with an average return of 4.5x.

The Vitrue exit takes the fund to a 2.4x TVPI with a 20% net IRR, with 19 investments remaining in the portfolio, according to the GP. It brings the average return generated by the tech team to 5.5x on realised deals, with an average holding period of 2.8 years.

Notable tech exits include the sale of visual effects software developer The Foundry to Carlyle in April 2011. Advent Venture also reaped a 7.7x multiple on the sale of mobile payment service Zong to eBay, a deal that valued the business at $240m.

Atlanta-based Vitrue is a cloud-based social marketing and engagement platform. It enables marketers to centrally create, publish, moderate, manage, measure and report on their social marketing campaigns and activities on social media platforms such as FaceBook, Twitter, YouTube and Google+.

Advent Venture's backing allowed the business to expand in Europe.

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• Topics
• Venture
• Exits
• Advent Venture Partners
• Trade sale