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12.6.24

Insights Recap: How Secondaries Are Shaping the Future of Venture Liquidity

Blog Post

For over 20 years, Industry Ventures has been at the forefront of venture secondaries through our flagship Secondary funds. In today’s quiet IPO and M&A landscape, secondaries are becoming a crucial liquidity option for late-stage VC-backed shareholders—GPs, LPs, and companies alike. We believe this trend is here to stay, providing stability across market cycles.

💡 Here’s what we’re diving into lately:

  • Shifting Tides for Corporate Venture Capitalists (CVCs): CVCs are investing earlier to stay ahead of emerging technologies. While this opens doors, it also brings challenges—larger portfolios, more risk, and longer paths to liquidity. Secondary sales are key for portfolio management and strategic focus [Read more here]
  • GP-Led Secondaries (Part I & II): With GP-led transactions on the rise, our team explores the evolution, trends, and best practices in this growing liquidity tool [Part I here] & [Part II here] 
  • The Venture Secondary Market: A Thirty-Year Evolution: Our founder, Hans Swildens, shares six bold predictions for the future of venture secondaries, drawing on decades of experience [Read more here]
  • Secondary Market for Venture Capital? We estimate the VC Secondary market at a staggering $130B, using our unique data and insights [Read more here] 

Footnotes

This material does not constitute financial, investment, tax or legal advice (or an offer of such advisory services) and should not be viewed as advice or recommendations (or an offer of advisory services).

Certain information contained herein (including certain forward-looking statements and information) has been obtained from published sources and/or prepared by other parties, which in certain cases has not been updated through the date hereof. While such sources are believed to be reliable, neither Industry Ventures and any general partner affiliated with Industry Ventures or any of its respective directors, officers, employees, partners, members, shareholders, or their affiliates, or any other person, assumes any responsibility for the accuracy or completeness of such information.

Disclosures

The views set forth herein are solely those of the authors and do not necessarily reflect the views of Industry Ventures. The information and views expressed are generic in nature and are not an offer to sell or the solicitation of an offer to purchase interests in any investments or services. Certain information contained in this article may constitute “forward-looking statements.” Any projections or other estimates contained herein, including estimates of returns or performance, are “forward looking statements” and are based upon certain assumptions that may change. Due to various risks and uncertainties, actual events or results may differ materially from those reflected or contemplated in such forward-looking statements. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by Industry Ventures, or any other person, that the objective and plans of Industry Ventures will be achieved. All forward-looking statements made herein are based on information presently available to the management of Industry Ventures and Industry Ventures does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of Industry Ventures.

This material does not constitute financial, investment, tax or legal advice (or an offer of such advisory services) and should not be viewed as advice or recommendations (or an offer of advisory services).

Certain information contained in this article (including certain forward-looking statements and information) has been obtained from published sources and/or prepared by other parties, which in certain cases has not been updated through the date hereof. While such sources are believed to be reliable, neither Industry Ventures and any general partner affiliated with Industry Ventures or any of its respective directors, officers, employees, partners, members, shareholders, or their affiliates, or any other person, assumes any responsibility for the accuracy or completeness of such information.

The investments described herein are for illustrative purposes only. This is not a full and complete listing of all current and prior investments. A complete listing is available upon request. The portfolio companies identified in this presentation are not necessarily the best performing investments in the portfolio, and have been presented for illustrative purposes only to demonstrate Industry Ventures’ investment approach with respect to each category. They do not necessarily represent all of the investments made or recommended by Industry Ventures, and it should not be assumed that the specific investments identified and discussed herein were or will be profitable.

The graphs, charts and other visual aids are provided for informational purposes only.  None of these graphs, charts or visual aids can, of themselves, be used to make investment decisions. No representation is made that these will assist any person in making investment decisions and no graph, chart or other visual aid can capture all factors and variables required in making such decisions.