Direct Secondaries

Growing Israeli tech market provides ample secondaries opportunity for ISF

The vast majority of deals from Israel Secondary Fund III, which is more than triple the size of its predecessor, are expected to be direct secondaries and GP-leds.

Verdane halfway to $1bn-plus target for latest flagship

The European direct secondaries specialist is seeking more than $2bn across separate vehicles.

Argosy hits hard-cap in quick final close

Argosy Strategic Partners, the firm’s secondaries unit, exceeded its fundraising target in just five months since its first close.

Kline Hill nears $1bn capital raise across three funds

The firm is expected to hold the final close on its latest programme before end-June.

NewView Capital raises $544m, will provide liquidity to other VCs

The firm, which spun out of New Enterprise Associates in 2018, raised two funds, including a special vehicle to buy portfolios being liquidated by other VC funds.

Setter VC spin-out Hiive continues build-out

Hiive, a trading platform for stakes in privately held companies, is led by former Setter MD Sim Desai and aims to launch in the spring.

Evoco raises €162m for Fund III

Evoco has raised €162m to acquire portfolios of companies in the European lower-mid-market, with a particular focus on German-speaking countries.

TCV runs strip sale that could total $1bn

Strip sales have not been as pervasive as other forms of direct secondaries like GP-led continuation funds and single-asset deals.

Venture with caution

The VC secondaries market is booming but buyers should beware entering a booming market at a time of sweeping change.

Ardian backs $1.5bn Churchill secondaries, co-invest deal

Ardian has backed several sizeable deals designed to grow an investment manager’s third-party AUM, involving groups such as Mubadala and John Hancock.