Peribit an Eight-bagger for Foundation

"Yesterday, I caught up with Adam Grosser, a partner at Menlo Park, Calif. VC firm Foundation Capital, which was an early investor in networking equipment maker Peribit Networks. As you may have heard, Juniper Networks on Tuesday said it will acquire Peribit for $337 million in cash and stock. For Foundation Capital III, the fund that invested in Peribit, the acquisition represents an eightfold return on invested capital (affectionately known as an eight-bagger). That's the best return so far for the fund, which was raised in 1999."

[Business Week blog]