secondaries
Industry Ventures raises a $900M fund for investing in small, early-stage VCs and their breakout startups
The venture fundraising trend in 2024 is fairly clear by now: Large, established VC firms are continuing to attract capital from limited partners, while smaller, newer funds are finding it…
What StepStone’s $3.3B venture secondaries fund tells us about LPs’ current appetite for venture
StepStone raised the largest fund dedicated to investing in venture secondaries ever, the firm announced last week. This fundraise doesn’t just say a lot about StepStone’s venture secondaries investing prowess,…
VCs are selling shares of hot AI companies like Anthropic and xAI to small investors in a wild SPV market
VCs are clamoring to invest in hot AI companies, and willing to pay exorbitant share prices for coveted spots on their cap tables. Even so, most aren’t able to get…
Airtree Ventures already returned its first fund thanks to Canva while maintaining the majority of its stake
Airtree Ventures uses the secondary market to slim down its stakes while waiting for its portfolio companies to exit.
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Late-stage VCs may be preventing their startups from going public in 2024
While some investors are loudly bemoaning that the IPO window can’t stay shut forever, other VCs themselves are actually part of the problem. A lot of standard VC deal terms give investors the ability to block an IPO or acquisition if they didn’t think the timing or price was right,…
VCs will get liquidity in 2024 from the secondary market, not IPOs
If you asked a bunch of VCs at the end of 2023 if the IPO market would finally open again in 2024, most of them would have said yes. We…
If a noticeable chunk of Carta startup and venture customers do leave, it would hurt the company’s otherwise impressive revenue figures, but that seems unlikely to happen.
Carta’s growth story is being overshadowed by its stock trading snafu
Is Carta a bad business without a secondary-market trading arm? Can it scale on its other revenue sources to the size it needs to take its large private-market valuation live?
A recent secondary stock sale shows that investors are starting to value Stripe above its most recent, slashed, valuation.
Secondaries investors say some valuations are still too high
While valuations have fallen quite a bit, some sectors are still too inflated for secondaries investors to find attractive.
Now is a great time to brush up your pitch decks, practice your pitch, and get ready for when things kick off again next year.
5 secondaries investors tell us what’s hot and what’s not heading into 2024
Secondary activity is expected to return to normal in 2024. Five investors tells us where they are interested and where they are not.
Summer’s secondary surge didn’t last, but 2024 should be strong
Secondary activity was inconsistent this year, but if the IPO window opens back up in 2024, secondaries should return with it.
Deal Dive: Most secondary sales in venture won’t look like Tiger’s Flipkart deal
Tiger Global sold its Flipkart stake at a valuation 7% below the startup’s last primary round. This outcome isn’t likely to happen again.
Buyers and sellers are coming to a consensus on startup valuations which is the first step to jump starting the late-stage market.
Secondary market trackers are lighting up a traditionally dark deal environment
A new fleet of startups is providing access to secondary deal data, which tells us how companies are doing in an otherwise quiet market.
How to use the secondary market to find clues about who will IPO first
Tracking secondary deals gives us insight into how investors are thinking about a company’s valuation and exit timeline.
Venture funding has started flooding back in at least one area: Secondaries
The venture secondaries market has been on the same roller-coaster ride as the broader VC market over the past few years, but it looks poised to break away in 2023.…
VC distributions are down 90% in Q1, says Industry Ventures, an LP in 450 funds
If you’re trying to get a pulse on what’s happening in the venture market right now, you could do worse than talk with Hans Swildens, founder of the 22-year-old investment…
137 Ventures, which provides loans to private company shareholders, just raised a new fund
137 Ventures, a 10-year-old, San Francisco-based firm that offers loans to founders, executives, early employees and other large shareholders of private, high-growth tech companies in exchange for the option to…
These Forge co-founders just raised $5 million to work on a new, still-stealth investing startup
Sohail Prasad and Samvit Ramadurgam are co-founders who met during Y Combinator’s 2012 summer batch and went on to co-found Forge, which helps accredited investors and institutions buy and sell…
Is buying and selling short positions in pre-IPO stock next? This fintech startup is banking on it
Even the most sanguine industry observer has to be stunned at times by the pace of dealmaking right now. Not quite halfway through 2021, startups are routinely closing new rounds…
Founders Circle Capital has raised a new $355 million fund to buy primary and secondary shares
Founders Circle Capital, a nine-year-old, San Francisco-based investment firm that strikes agreements with private, venture-backed companies to buy some of the vested stock options of their founders and employees —…
Appfire, provider of Atlassian apps, raises $100M to continue its buying spree
Appfire, a Boston-based provider of software development apps, announced Tuesday that it has received a $100 million investment from growth private equity firm TA Associates. Founded in 2005, Appfire was…
Nigerian founders-turned-investors are now running syndicate funds
The Future Africa Fund kicked off in 2015 when Iyinoluwa Aboyeji and Nadayar Enegesi, co-founders of U.S.-based and African-focused talent company Andela, wrote checks to African startups as angel investors.…
What the NFT? VC David Pakman dumbs down the intensifying digital collectibles frenzy
Non-fungible tokens have been around for two years, but these NFTs, one-of-one digital items on the Ethereum and other blockchains, are suddenly becoming a more popular way to collect visual…
Carta’s startup liquidity service CartaX conducts first transactions on its own cap table
As startups have stayed private longer and liquidity has become harder to secure for early employees and investors, more and more shareholders have looked for ways to unload their shares…
GitLab oversaw a $195 million secondary sale that values the company at $6 billion
GitLab has confirmed with TechCrunch that it oversaw a $195 million secondary sale that values the company at $6 billion. CNBC broke the story earlier today. The company’s impressive valuation…
Wish (and Airbnb, and Palantir) investor Justin Fishner-Wolfson doesn’t care about first-day pops
It’s probably no wonder that when Founders Fund was still a very young venture firm, it brought aboard as its first principal Justin Fishner-Wolfson. Having nabbed two degrees from Stanford…
Carta’s former marketing VP is suing over gender discrimination after spearheading report on unequal pay
Emily Kramer joined the Silicon Valley company Carta to build up the company’s brand. Now, the company’s former VP of marketing is looking to shine a light on Carta for…
