Nas is reportedly about to see some huge returns from one of the early investments he made in 2013. As per a report by Yahoo! Finance, Nas’ investment firm Queensbridge Venture Partners had invested in Coinbase.
According to the report, Coinbase is about to reach the valuation of $100 billion when it hits the NASDAQ index next week. Nas’ firm had initially raised $25 million into Coinbase’s Series B. At the time, the currency exchange had reached a valuation of $143 million.
As per Anthony Saleh, Queensbridge Venture Partners’ co-founder, their early stage investments are somewhere between $100,000 and $500,000. At the time of the investment, the company’s single share valued at $1.00676. At the time, the firm had purchased around 99,329 or 496,642 shares.
According to a CoinDesk analysis, Nas could turn around about $34.76 million and $173.8 million, as the stock trading price was $350 per share during the last stock trade.
That’s not all. It’s possible that Nas could be looking at getting $218.5 million from his $43.7 million if Coinbase decided to go with a trade price of $440 with the investment bank DA Davidson.[Via]