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1Password Founders Sell Utah Jazz Owner Ryan Smith’s VC Fund a $75 Million Stake

Utah Jazz owner Ryan Smith Photographer: Alex Goodlett/Getty Images1Password founders have agreed to sell a $75 million stake to a fund established earlier this year by Utah Jazz owner Ryan Smith and Accel partner Ryan Sweeney. The Halo FundBloomberg Terminal founded by Smith and Sweeney contributed the largest investment in a $100 million secondary sale in which investors including Flume Ventures bought stakes from 1Password founders, according to the company. Under the terms of the transaction...

Read more at bloomberg.com

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