Wiz backer Sequoia Capital is poised to deliver a return of about 25 times its invested capital from the cybersecurity startup’s pending sale to Google parent Alphabet Inc., according to a person with knowledge of the matter.
The multiple on invested capital, known as MOIC, is calculated based on Sequoia’s roughly 10% stake in Wiz, which Alphabet agreed to buy for $32 billion in cash. Sequoia is set to reap about $3 billion from the sale, said the person, who asked not to be identified discussing private information.