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This was almost loss transaction. That 12% ROI easily got eaten up in fees.

Several years after their last funding rounds, so the amortized yearly returns would be well below market. Most of the general partners at the VC funds involved likely "lost" money (it'd have dragged down their carry), while the limited partners would have seen below-market returns...

ROI depends on whether the company is profitable going forward too I'd imagine...

Why would that matter? The investors got their cash and walked.