Ant Capital sees 60% IRR on VarioSecure exit
Japanese private equity firm Ant Capital Partners has completed the JPY6.7 billion ($79.7 million) sale of its fully owned portfolio company VarioSecure Networks Inc., a provider of network security services. The sale to PE-backed 1st Holdings Inc., translates into more than 2x return on Ant’s initial investment, according to deal filings.
In 2009, Ant Capital's team, led by Nick Kondo, who later became the Chairman & CEO of VarioSecure, took 100% of the company's shares via a management buy-in funded by the firm's Ant Catalyzer No.3 vehicle,...
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