Alternatives

Pre-IPO Secondaries

Curated secondary access to leading late-stage US pre-IPO companies.

Pre-IPO SecondariesImage · Pre-IPO Secondaries
Overview

A pre-IPO secondary is the purchase of shares in a late-stage private company from an existing holder rather than the company. Matchpoint provides curated secondary access to leading US names — frontier AI, aerospace, fintech and data — for qualified PE funds and family offices, via direct secondaries, SPVs and forward contracts.

As part of our Alternatives practice, Matchpoint Partners has originated and led $2+ billion of transactions across four continents, and every alternatives mandate is led by a partner, from first call to close.

A pre-IPO secondary is the purchase of shares in a late-stage private company from an existing holder, rather than from the company itself. It lets qualified investors gain exposure to high-conviction private leaders before a public listing.

Matchpoint Partners sources curated secondary access across frontier AI, aerospace, fintech and data platforms — using direct secondaries, single- and multi-name SPVs, and forward contracts where direct transfer is restricted. Every allocation is diligenced for pricing, structure and counterparty quality.

Late-stage names & current availability

Representative secondary availability for qualified PE funds and family offices. Illustrative only and subject to availability, eligibility and counterparty terms — not an offer or solicitation.

AI
OpenAI

Indicative availability

USD 200m–250m
AI
Anthropic

Indicative availability

USD 10m–300m
Aerospace
SpaceX

Indicative availability

USD 20m–100m
AI
xAI

Indicative availability

USD 20m–100m
Fintech
Stripe

Indicative availability

USD 10m–1bn
Technology
ByteDance

Indicative availability

USD 500m
Defense
Anduril

Indicative availability

USD 5m
Defense AI
Shield AI

Indicative availability

USD 3m–100m
Defense
Saronic

Indicative availability

USD 10m
AI / Quantum
SandboxAQ

Indicative availability

USD 50m
AI
Perplexity

Indicative availability

USD 2m
Fintech
Revolut

Indicative availability

USD 2m
Social
Rednote

Indicative availability

USD 400m
Dev Tools
Replit

Indicative availability

On request
AI
Mercor

Indicative availability

On request
AI / Dev
Lovable

Indicative availability

USD 2m
AI
AMI Labs

Indicative availability

USD 5m
AI
Humans&

Indicative availability

On request
Technology
Better & Better

Indicative availability

USD 1m
Defense Tech
RIFT

Indicative availability

USD 1m
Consumer AI
StyleDNA

Indicative availability

USD 1m
Technology
Unconventional

Indicative availability

USD 5m

Availability changes frequently. Contact us for current names, pricing and structures under NDA.

How Matchpoint helps

Our role on pre-IPO secondaries mandates

  • Direct secondaries from existing holders
  • Single- and multi-name SPVs
  • Forward contracts where transfer is restricted
  • Pricing and counterparty diligence
Track record

Select transactions

Representative alternatives mandates led by Matchpoint partners.

AI Infrastructure
OpenAI

Curated pre-IPO secondary access into a leading frontier AI model platform.

Secondary Placement · USD 200m–250m available
AI Safety
Anthropic

Pre-IPO secondary access into a frontier AI safety company.

Secondary Placement · USD 10m–300m available
Aerospace
SpaceX

Secondary access into the leading private aerospace platform.

Secondary Placement · USD 20m–100m available
Payments / Fintech
Stripe

Secondary participation in a global payments and fintech leader.

Secondary Placement · USD 10m–1bn available
AI Infrastructure
xAI

Direct secondary access into a frontier AI infrastructure company.

Secondary Placement · USD 20m–100m available
Technology
ByteDance

Secondary access into a leading global technology platform.

Secondary Placement · USD 500m available
Questions, answered

Pre-IPO Secondaries — frequently asked questions

Buying shares of a late-stage private company from an existing holder rather than the company.

Qualified investors — primarily PE funds and family offices — from ~USD 1m per name.

Through the secondary market — buying from existing shareholders directly, joining a single-name SPV, or using a forward contract where transfers are restricted. Access runs through advisers and platforms holding allocations, with eligibility, minimum tickets and company transfer approvals governing who can participate.

Against the company’s most recent primary round and observable secondary trades, adjusted for structure and share class. Discounts or premiums reflect transfer restrictions, limited information rights, the depth of demand for the name and how the exposure is held — direct positions usually price differently from layered structures.

Confirm the seller actually holds the shares and can transfer them, understand the structure — direct, SPV or forward — and any layers between you and the equity, check aggregate economics across those layers, and verify the company’s approval process. Counterparty failure, not company performance, is the most avoidable risk.

It covers US pre-IPO secondaries, curated deal access for private equity funds and family offices, PE/VC fund placement, and AI data-centre investments — for qualified investors.

Pre-IPO secondaries, GP- and LP-led secondaries, co-investments, PE/VC fund placement and SPVs, plus thematic exposure to AI data centres, digital infrastructure and the energy transition.

Matchpoint works primarily on a success fee, with a modest retainer to cover execution. Fees are agreed in writing up front and scaled to the size and complexity of the transaction — with no hidden costs.

Most mandates reach a first term sheet within 30 days, depending on diligence readiness and structure; closing follows once terms are agreed.

A short, confidential scoping call and NDA; we structure the requirement and prepare materials, then run a competitive process across our 5,000+ investor and lender relationships, and negotiate to close — with a partner leading at every step.

Matchpoint Partners is based in the UAE and runs cross-border mandates across the UAE, KSA, India and the UK, with active deal activity in wider Europe, Singapore and the United States.

Matchpoint has originated and led $2+ billion of transactions, with equity tickets typically USD 5m–300m, debt USD 10m–500m+, real estate finance USD 20m–500m+, and fund placements for funds of USD 50m–1bn+.

Use the enquiry form, email ck.adya@matchpoint-partners.com, or call/WhatsApp +971 52 345 1119. Every mandate is led by a partner from the very first conversation.

Yes. Matchpoint runs discreet, confidential processes and discloses client identities only under a signed non-disclosure agreement (NDA).

Interested in pre-IPO secondaries?

Tell us your requirement and a partner will respond personally.

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