Two-speed VC secondaries market emerges as capital crowds top names
The venture capital secondaries market is becoming increasingly bifurcated as investors compete aggressively for access to a handful of late-stage technology names.
By Cristiano Bona, Tom Cane and Troy Hooper
The venture capital secondaries market is becoming increasingly bifurcated as investors compete aggressively for access to a handful of late-stage technology names while much of the wider asset class continues to trade through negotiated processes, often at discounted valuations.
“If you’re one of the top 10 or 20 companies, it’s a full-blown marketplace. There are buyers and sellers, and information flows reasonably efficiently in near real time,” said Chris Bull, a managing director at secondaries investor Kline Hill.
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