Matrix Capital trims Xero stake, sells to Silicon Valley's TCV

Tue, 18 Apr 2017

By Paul McBeth April 18 (BusinessDesk) - US hedge fund Matrix Capital Management sold down its stake in Wellington-based software developer Xero, selling to Silicon Valley tech investor TCV. Matrix sold 1.4 million shares, or about 1 percent of the company, to TCV at $20 apiece on April 14 in an off-market deal, for a total of $28.6 million, notices to the stock exchange show. That was a small discount to the $20.30 price the shares were trading at when the NZX closed for the Easter holiday, however Matrix first bought into Xero at $6 a...

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