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 5m–100m through Matchpoint
Defense
Saronic

Indicative availability

USD 10m
AI / Quantum
SandboxAQ

Indicative availability

USD 50m
Social
Rednote

Indicative availability

USD 400m
Dev Tools
Replit

Indicative availability

On request
AI
Mercor

Indicative availability

On request
AI
AMI Labs

Indicative availability

USD 5m
AI
Humans&

Indicative availability

On request
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
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 5m upwards 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.

Engagements ordinarily combine a retainer with a success fee. Terms are agreed in writing before work begins and calibrated to the mandate’s size, scope and complexity.

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 undertakes corporate finance, financing, M&A and fund-placement mandates from USD 5m upwards, subject to mandate fit, diligence, applicable regulation, capacity and a written engagement. The partner team has originated and led $2+ billion of transactions.

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

Yes. Confidential information is handled under the engagement terms and any applicable non-disclosure agreement.

Interested in pre-IPO secondaries?

Tell us your requirement and a partner will respond personally.

Shareholder financing

Financing against pre-IPO or restricted shares

Financeability depends on verified ownership, transfer restrictions, issuer rights, valuation, liquidity, existing liens, recourse and enforceability.

Review the financing framework
Capital markets ecosystem

Investment roles, structures and decision criteria

Explore the participants and transaction options relevant to this practice. Each entry sets out a discussion scope, decision checks, a paid engagement starting point and the specialist responsibilities to confirm.

Asset and Special Situations Buyers

Secondary BuyersCME-119 · Asset and Special Situations Buyers · Buyer
Ecosystem role
Buyer
Related asset class
Alternatives
Instrument context
Asset or share purchase

Mandate context: asset purchases, infrastructure transactions and stressed situations. The structure and rights are established by the specific transaction documents.

Decision focus: Acquisition perimeter and recoverable value.

  • Assets, title and transaction perimeter
  • Operating continuity and specialist diligence
  • Liabilities, approvals and recovery or exit scenarios

Scope to discuss: Buy-side target search, screening, valuation, diligence and acquisition execution.

Paid engagement entry point: acquisition thesis and target-screening sprint; followed by diligence and deal execution.

Illustrative GCC scenario: An illustrative Kuwait asset acquisition can distinguish the assets included, title evidence, operating dependencies and liabilities requiring specialist review. This is a hypothetical decision example.

What should be agreed before a mandate involving Secondary Buyers?

Define the investment or transaction objective, the authorised decision-maker, the evidence available, the requested deliverables and the next approval. Use the decision checks above to identify gaps; agree the workplan, delivery responsibilities and fee terms in writing.

Delivery and specialist boundary: Confirm decision authority, evidence access, conflicts, scope and applicable jurisdiction-specific permissions before execution. Legal, tax, fund-marketing, securities and Shariah questions require the relevant appointed specialist. Capital availability, investment returns and execution dates remain subject to assessment.

Discuss a paid scope

M&A and Restructuring

Venture-Secondary TransactionsCME-288 · M&A and Restructuring · Transaction Route
Ecosystem role
Transaction Route
Related asset class
Private equity
Instrument context
Share sale, asset sale or refinancing

Mandate context: private sale, acquisition, restructuring and secondary transactions. The structure and rights are established by the specific transaction documents.

Decision focus: Transaction route, value and execution dependencies.

  • Ownership, objectives and transaction perimeter
  • Valuation, stakeholder incentives and alternative structures
  • Approvals, diligence and completion or restructuring conditions

Scope to discuss: Transaction route assessment, process design and execution support.

Paid engagement entry point: transaction-route feasibility study; followed by process design and execution.

Illustrative GCC scenario: An illustrative cross-border GCC carve-out can compare the sale perimeter, standalone readiness, valuation and separation dependencies before selecting a transaction route. This is a hypothetical decision example.

What should be agreed before a mandate involving Venture-Secondary Transactions?

Define the investment or transaction objective, the authorised decision-maker, the evidence available, the requested deliverables and the next approval. Use the decision checks above to identify gaps; agree the workplan, delivery responsibilities and fee terms in writing.

Delivery and specialist boundary: Confirm decision authority, evidence access, conflicts, scope and applicable jurisdiction-specific permissions before execution. Legal, tax, fund-marketing, securities and Shariah questions require the relevant appointed specialist. Capital availability, investment returns and execution dates remain subject to assessment.

Discuss a paid scope

Further reading on diligence, market frameworks and applicable requirements. These resources do not verify an individual mandate or Matchpoint permission.

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