voxeljet AG (VJET, Financial), a manufacturer of 3D printing equipment and provider of printing services, was an extreme performer in the period, gaining 267%.We purchased our investment at the time of voxeljet's IPO, but after the gain, we sold the investment because we could no longer justify the valuation even factoring in what we believe is a large market opportunity. We continue to follow the company and the 3D printing industry closely and would potentially re-invest at more reasonable valuations.
From Ron Baron (Trades, Portfolio)'s Baron Funds fourth quarter 2013 letter to shareholders.
