Palantir became Fabrica Ventures Fund first exit.
Palantir is a data analytics company that enables customers to integrate, manage, secure and analyze vast amounts of data. It was founded in 2004 (in Palo Alto) by Peter Thiel, Silicon Valley’s number 1 guru and Midas.
We were lucky, we entered just one month before the IPO and with a 22% discount over the last funding round. Palantir IPOed (through a direct listing process) on September 30, 2020 with a valuation closer to the last funding round, at $10.00 per share.
Palantir first public month was shaky and then it skyrocketed to reach $39.00 per share in January 2021. After the end of the lock-up period, its shares were hammered at around $25.00. Notwithstanding, Fabrica Ventures managed to achieve an IRR of over 360%, which is 12 times the fund’s daring goal.
Fabrica Ventures central thesis is to invest in “Late-Stage Ventures with high gray mass density per (plenty of) allotted capital”.
Prior to the IPO, Palantir had raised $2.7B to create the leading data mining and data analytics software.
Our investment thesis passed through its first acid test.