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Insights


Private Credit Secondaries
Issue - October 2025 This piece was originally published in our Axis Capital Markets newsletter . To get future issues straight to your inbox, sign up here: axiscapitalmarkets.beehiiv.com 🔷Liquidity by Design: How Secondaries Are impacting Private Credit Private credit secondaries have shifted from being a niche solution to a core component of the market’s architecture. What was once viewed as opportunistic has become integral to the way private credit capital is recycled,
Tania Tugonon
Oct 12


Figure.ai and the Capital Signal Behind the Humanoid Race
Source: figure.ai A New Phase of AI Investment The evolution of Figure.ai illustrates a notable shift in how capital is being deployed across artificial intelligence and automation. The company has raised over $1.8 billion at a $39 billion valuation, positioning itself as one of the early leaders in humanoid robotics. Founded in 2022 by Brett Adcock, Figure.ai draws on engineering talent from Tesla, Boston Dynamics, DeepMind, and NASA—combining embodied AI with scalable man
Tania Tugonon
Oct 2


Q1'25: General Market Update
Image by Unsplash At Axis Group Ventures , we specialize in strategic debt placements across venture growth, the lower middle market,...
Tania Tugonon
Mar 19


Investor Spotlight: Golub Capital
We previously shared this investor spotlight on our Linkedin Channel . Over the years, we have followed and admired this week’s investor...
Tania Tugonon
Mar 19


Investor Spotlight: Founders Circle Capital
We previously shared this investor spotlight on our Linkedin Channel. This week we are featuring Founders Circle Capital. We have known...
Tania Tugonon
Mar 19


Investor Spotlight: Summit Partners
We previously shared this investor spotlight on our Linkedin Channel. Welcome to our 17th #InvestorSpotlight feature! This week, we're...
Tania Tugonon
May 28, 2024


Investor Spotlight: Kleiner Perkins
We previously shared this investor spotlight on our Linkedin Channel. Kleiner Perkins, previously referred to as Kleiner Perkins...
Tania Tugonon
May 7, 2024


Private Market Secondaries - recent news
A version of this was recently posted on our LinkedIn channels. Manulife Investment Management (Manulife IM) recently announced its...
Tim Barnes
Apr 29, 2024


Investor Spotlight: True Ventures
We previously posted this on our Company Linkedin page True Ventures is a prominent Silicon Valley venture capital firm renowned for its...
Tania Tugonon
Apr 25, 2024


Periodic Private Markets and Private Credit news
Some interesting news from PitchBook's 2023 Annual Global Private Markets Fundraising Report. In 2023, Approximately $1,174.6 billion was raised across all global private capital strategies. The aggregate YoY change was down (20.5%). All strategies were down YoY with the exception of secondaries, though secondaries only accounted for $78.3 billion. Of note, Secondaries had a substantial increase (but from a smaller base). Venture capital, real estate, real assets, and fund o
Tim Barnes
Apr 15, 2024


Investor Spotlight: Spark Capital
For this week, we’re profiling Spark Capital. Focus Areas: Spark Capital, a venture capital firm, directs its investments across various...
Tania Tugonon
Apr 12, 2024


Late March 2023 Secondaries market activity and notes:
There’s been an uptick in secondary market activity after a slowdown observed in 2022 and early 2023, Crunchbase reports. In the last...
Tim Barnes
Apr 12, 2024


Secondary Market Insights
As we step into the heart of March, the financial landscape is pulsating with energy and possibilities, particularly within the dynamic...
Tim Barnes
Mar 12, 2024


Alternative Investments: A Year in Review
February 16, 2024 The Latest 2023 Insights: A Recap of Last Year's Alternative Investments We drafted this blog post at the end of 2023,...
Tania Tugonon
Feb 16, 2024


Default Dead - Default Alive - Market Touch points
November 29, 2023 The Latest What Happened to Convoy? When I first heard the news that Convoy was collapsing, it felt like a shock. The...
Tania Tugonon
Nov 29, 2023


Private Equity in Sports. Media. Entertainment
At AXIS Capital Markets , we specialize in global debt placement and secondaries for VC and PE-backed companies. The pace of growth in...
Tim Barnes
Nov 14, 2023


What to make of NAV loans?
Tokyo October 30, 2023 NAV Financing Extending Life Funds and Staying Liquid with NAV Financing Over the last 1 to 2 years, NAV (Net Asset Value) credit facilities have become a more popular topic among GPs and LPs of Private Equity funds. NAV credit facilities have been in the market for a number of years, but there is more attention on the product offering given the current market conditions. What market conditions are driving NAV consideration? A few things are important
Tania Tugonon
Oct 30, 2023


Secondary Funds - $47 billion raised YTD
September 23, 2023 Secondary Investment Funds - The Latest Secondary Investment Market Commentary The Nasdaq market site is in Times Square, New York City. Surging interest rates and last year’s weak public equity market performance have made institutions think twice before taking on more private holdings © Reuters When you think of the Private Secondary Market today, what words, thoughts, or things come to mind? Opaque. Illiquid. The desire for liquidity. Lack of clarity
Tania Tugonon
Sep 24, 2023
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