Invested: $250,000 thousand
LVIC Members invested in a private tech company with several existing streams of income and was profitable.
WMODE Management expected the company to undertake a public offering within a few years but (to the pleasant surprise of club member/investors) the company was privately purchased by Peter Thiel (Founder of Pay Pal) for a 92% gain just ten months after club members invested.
This project is now outside the parameters and mandates set by the Las Vegas Investment Club in Jan 2015 – (since that decision we only invest in projects in which we play an active role).
However, this passive investment is worth mentioning and certainly was an unqualified success.