US pre-IPO secondaries are private transactions in shares or economic interests of late-stage US companies that have not yet listed, bought from existing shareholders such as employees or early investors. Access is commonly arranged through special-purpose vehicles (SPVs) or forward contracts.
They give qualified investors exposure to late-stage private companies before an IPO, subject to eligibility and restrictions.
Arranged for family offices, funds and qualified investors.
US pre-IPO secondaries are private transactions in shares or economic interests of late-stage US companies that have not yet listed, bought from existing shareholders such as employees or early investors. Access is commonly arranged through special-purpose vehicles (SPVs) or forward contracts.
Arranged for family offices, funds and qualified investors.
In a secondary, an investor buys existing shares or economic interests from current shareholders such as employees or early investors, so no new money goes to the company. In a primary round, the company issues new shares and receives the proceeds itself. Secondaries therefore provide liquidity to sellers rather than fresh capital.
Exposure is commonly arranged through special-purpose vehicles (SPVs) or forward contracts rather than direct share transfers, because shares in late-stage private companies often carry transfer restrictions. Access is generally limited to qualified investors such as family offices and funds, subject to eligibility and the terms of each structure.
Speak to a partner about how this applies to your transaction.
