I don't know that this was an acquisition in the sense that the Replicate investors and team made bank. I don't see a price tag, and the market for these "run model" infra companies is pretty crowded.
for investors, it will highly depend on the valuation ($350m) and liquidation preferences. so, even if they "only" raised $50m, seeing almost or none return is plausible. this also includes employees who exercised their options. another story is for the founders
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I don't know that this was an acquisition in the sense that the Replicate investors and team made bank. I don't see a price tag, and the market for these "run model" infra companies is pretty crowded.
replicate "only" raised $50m, so I'd wager the founders, investors and early employees did well here.
If they raised $500m... then yes, the wouldn't have done so well.
for investors, it will highly depend on the valuation ($350m) and liquidation preferences. so, even if they "only" raised $50m, seeing almost or none return is plausible. this also includes employees who exercised their options. another story is for the founders