Insights

Late-stage secondary markets are gaining momentum as transaction volumes rise and valuation discounts narrow. However, liquidity remains concentrated among select private companies. We examine recent pricing trends, trading activity, and what they mean for founders, investors, and capital providers evaluating opportunities in the secondary market.

When managing investment portfolios for growth-stage companies and private equity-backed firms, understanding the nuances of secondary transactions has become increasingly important. For founders, executives, LPs, and GPs operating in private markets, longer holding periods, delayed exits, and shifting liquidity needs have moved secondaries from a reactive solution to a core component of portfolio and capital strategy. The Role of Secondaries in Investments Secondaries involv