image source: http://www.propertynewsmedia.com/profiles/packer.jpg

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Just read that Conslidated Media Holdings are selling their James Packer inspired stake in Seek for just over $440M.

Not bad for a 2003 investment in the then private Seek of $33M (That’s an ROI of 1233% over 6 years or a simple annualized ROI of 205%)

Obviously CMH is not a VC fund (and JP isn’t a VC), but if it/he was, the time frames would be about right, if at the long-end (6 years from entry to exit), to be considered a successful investment.

I’m struggling to think of any australian post dot-com VC exit that is better than that.

If he gets bored of the Casino-game there could be a future for him in VC.