direct secondaries

The firm is also expanding its regional footprint with the opening of an office in Shenzhen, Secondaries Investor has learned.

The firm, which last week closed the sale of a minority stake in Pensions Insurance Corporation to a UK family office, will begin marketing Keyhaven Secondaries Fund III next year.

VC-focused NewView Capital was formed by a $1.4bn direct secondaries deal backed by Goldman Sachs and Hamilton Lane.

The direct secondaries specialist is investing its $685m Fund X, which closed in January last year.

The SharesPost100 fund, designed to democratise access to VC, is managed by ex-HQ Capital secondaries co-head Christian Munafo.

Groups like Coller-backed Liquid Stock, which offers employees financing to exercise stock options in exchange for future upside, have seen healthy business during the downturn.

In 2017, CEO Hans Swildens said Industry Ventures' funds would only exceed $500m if there was 'a massive downmarket correction'.

Hong Kong-based CLSA is seeking up to $100m from the likes of HNWIs and wealth managers to build a portfolio of pre-IPO tech unicorns, Secondaries Investor understands.

The conventional wisdom that M&A or IPO are the only two paths to liquidity for a business may no longer hold true, write Todd Miller and Katie Stitch of W Capital Partners.

Sellers of privately held company shares are getting creative with their holdings during the crisis, writes Liquid Stock co-founder Greg Martin.