VC firm pockets $40 million on Ace2Three sale

Venture firm Matrix Partners India has made more than 20 times returns by selling its stake in Head InfoTech India, the operator of online rummy website Ace2Three.

Last week, Canadian investment firm Clairvest Group and a consortium of investors acquired the majority stake in Head InfoTech for 73.7 million.

The venture capital firm is said to have made over Rs 2.6 billion (US$40.1 million) on its investment.