Florintree Advisors Buys Stake In Drone Startup BotLab Dynamics After Whopping 600% Return From ideaForge Deal

Florintree Advisors Buys Stake In Drone Startup BotLab Dynamics After Whopping 600% Return From ideaForge Deal

SUMMARY

Florintree Advisors, which made an early bet on ideaForge to get almost 600% return, bought a 15% stake in drone maker BotLab Dynamics, for about $2.4 Mn

BotLab Dynamics is an Indian drone maker that specialises in light show

Florintree placed its bet on BotLab after investing $12.15 Mn in ideaForge and generating high return from the investment

Former Blackstone dealmaker’s investment firm Florintree Advisors, which made an early bet on ideaForge to get almost 600% return, bought a 15% stake in drone maker BotLab Dynamics, for about $2.4 Mn, Mathew Cyriac, the investment firm’s founder, told Bloomberg.

Cyriac was Blackstone’s second employee in India in 2006 and eventually became its co-head for private equity in the country.

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