EToro IPO Nets Spark Capital $530 Million Gain From Early Bet

Venture firm Spark Capital saw a gain of about $530 million this week when EToro Group Ltd. went public, according to people familiar with the matter — the culmination of an early bet it placed on the Israeli startup 15 years ago.

Spark was the largest shareholder in EToro when it listed with a $4.3 billion market capitalization this week, owning about 13% of the company according to filings. The venture firm had put a total of about $19 million into EToro, according to the people, who asked not to be identified discussing private information. By the time the company went public, ...