Editor's note: this is an op-ed from Fergal Mullen, a founder of late-stage technology investment firm Highland Europe (who we also recently interviewed for our weekly podcast).
Photobox, Privalia, and myOptique have all exited recently for a combined value in excess of $1 billion (£770 million).
The investments delivered meaningful profit to Highland Capital Partners - the funds from which the firm I co-founded, Highland Europe, was born. The combined revenue of the three companies at the time we invested was approximately $50 million, and all were burning cash. In 2016, together they will deliver close to $1 billion in revenue and significant profitability.
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