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Big Peninsula biotech buyout means happy returns for Kleiner Perkins, other VCs

Ron Leuty
American City Business Journals
Big Peninsula biotech buyout means happy returns for Kleiner Perkins, other VCs

Legendary venture capital firm Kleiner Perkins Caufield & Byers bought into Redwood City's ARMO BioSciences Inc. in December 2012 when Series A shares sold for $1. It stuck with the company into a January IPO at $17 and now with a $50-per-share buyout by Eli Lilly & Co.