On August 24, 2021, the Element Global Technologies Private Portfolio fund liquidated about 90% of its position on DigitalOcean. The fund’s clients purchased shares in September 2020 at $ 23.10- $ 23.80 per share. The sale price was $ 54.57, the yield was up to 136% excluding commissions.
Some clients left the position before the IPO at a price of $35 per share due to the risks of a decrease in the value of shares during the lockup. In the first three months after the IPO, DOCN quotes did indeed trade below the placement price and at the moment dropped to $35.5, but then they came back to a growth trend.
The remaining 10% are expected to be delivered to a brokerage account and sold in the near future.