Fundo de Sindicação de Capital de Risco PME-IAPMEI (FSCR), managed by PME Investimentos, invested in NSEC – Sistemas Informáticos, SA, a company providing services related with computer and communications security, mainly electronic mail, preventing virus and other malicious attacks, as well as spam.
During the second semester of 2014, NSEC was sold to BitSight Technologies, Inc. (Bitsight), with FSCR receiving a percentage of the latter’s stock as payment.
Bitsight is a company founded in 2011, established in Boston and with 1.200 customers around the world.
In June 2018, Bitsight concluded a series D investment round (Late Stage Venture) amounting to 60M USD, corresponding to a post-money valuation of approximately 600M USD. In the context of this investment round, PME Investimentos now sold the stock it held in Bitsight.
This operation resulted in a multiple of 16x and in an IRR above 25% for FSCR.