The Secondary Direct Market for Venture Backed Technology Companies

What is a Secondary Direct Venture Investment
  • The purchase of shares in late-stage venture-backed companies from existing shareholders
  • Capital is used to provide liquidity and diversification to shareholders as opposed to providing a capital investment into the company
Who are the Sellers
  • Employees, many of whom receive a substantial portion of their compensation in the form of equity
  • Angel investors and early-stage VCs, eager to gain liquidity either to return capital to investors or to redeploy in other early-stage deals
  • Traditional VCs, to divest holdings in order to wind down their funds
Why is there a Growing Market
  • Companies are staying private longer
  • Private technology companies are now larger, more diverse and better funded than at any time in recent history
  • Scale, agility and global reach create multibillion dollar valuations, allowing these companies to raise billions privately
  • Employees and early investors desire liquidity and/or diversification to Founders want to avoid a premature IPO or sale
  • Companies need to retain mission-critical talent

The MVP Team

Eric Brachfeld Eric Brachfeld

Eric Brachfeld

Managing Partner
Jared Carmel Jared Carmel

Jared Carmel

Managing Partner
Kevin A. Cohen Kevin A. Cohen

Kevin A. Cohen

Partner
Bradley D. Fishman Bradley D. Fishman

Bradley D. Fishman

Partner
Nicholas Gupta Nicholas Gupta

Nicholas Gupta

Partner
Evan A. Haymes Evan A. Haymes

Evan A. Haymes

Managing Partner
David James David James

David James

Associate
Nissa Khilji Nissa Khilji

Nissa Khilji

Associate
Samuel Kosloff Samuel Kosloff

Samuel Kosloff

Senior Vice President
Michael Linebarger Michael Linebarger

Michael Linebarger

Senior Vice President
Santosh Rao Santosh Rao

Santosh Rao

Head of Research
John Smilgin John Smilgin

John Smilgin

Senior Vice President
Rashaun Williams Rashaun Williams

Rashaun Williams

General Partner

Advisors

Max Wolff Max Wolff

Max Wolff

Stephen B. Siegel Stephen B. Siegel

Stephen B. Siegel

Lisa Manuele Lisa Manuele

Lisa Manuele

Catherine Levene Catherine Levene

Catherine Levene

Bill Kurtz Bill Kurtz

Bill Kurtz

Zack Exley Zack Exley

Zack Exley