Ryan Hibbison

The growth-stage secondaries specialist, which is premarketing a $300m Fund III, draws on its founder's 20 years of experience to provide liquidity to GPs thirsty for DPI.

Soma Capital, which manages $1bn, appears to be one of the first venture firms to seek to hire a 'head of liquidity solutions'.

Former Intel Capital directors closed on $305m for their third flagship fund, which will aim for exposure to data infrastructure, cybersecurity, fintech, robotics and next-gen gaming companies.

While secondaries are set to be transformational for the venture capital industry, managers in the market face a steep learning curve.

More venture firms are following the lead of buyout firms by creating continuation funds to provide liquidity to LPs in older funds. Here are the pluses and minuses for GPs and LPs considering CVs.

Secondaries are becoming a structural part of the venture market, not just a short-term solution, according to Ravi Viswanathan of NewView Capital.

The multi-strategy investor and secondaries specialist built the programme to teach GPs and LPs how to find alternate routes to liquidity outside of IPOs and M&A.

The fund will be split between fund investments and transactions, with 75% of the latter proportion going to secondaries deals.

Trinity Ventures' deal involves moving 15 assets from its 11th flagship fund to a separate vehicle.

The firm emphasises the timing of its primary and secondaries investments in companies to produce impressive performance metrics.