Novig–one of our startup investments–raised a Series-B round at around a 5x markup on their previous price. It was already our most successful venture investment so far. Angellist have not updated the valuation yet. After the "carried interest" for the general partner who manages our investment, we might see a 4x markup on top of our current 9.5x markup. It would take our overall Angellist IRR to 24% and my own investments in syndicated startups (rather than through venture funds) to an IRR of 70%+.
Of course, these are all "paper profits". But it's kind of crazy to think that this markup and expected markups in their rolling fund are on the scale of the redundancy package I got last year, which was just over AUD 1/4 million, or more than a year's expenses. Hopefully, the capital gains tax comes back to some more sensible number when these investments are eventually realised.
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