Private Markets, Angel and Secondary Investing, Sacra

Sacra

Private Markets, Angel and Secondary Investing

Bringing transparency to private markets so investors, founders, and employees can build on conviction. Sacra delivers deeply researched insights on the private companies shaping tomorrow's markets. By surfacing the data, context, and operator perspective that are missing from private markets today, we help secondary buyers and sellers price equity accurately and unlock liquidity for the people building these businesses.

Private Capital Markets

<ul><li>Noel Moldvai and Adam Crawley are the co-founders of Augment.</li><li>Augment solves lead gen by being a platform, but also opens it up to the broader ecosystem, allowing these independent brokers to be able to capture a larger audience, and do more deals.</li><li>Our ATS went live in July and gave us the freedom to push harder.</li></ul>

Noel Moldvai and Adam Crawley are the co-founders of Augment.Augment solves lead gen by being a platform, but also opens it up to the broader ecosystem, allowing these independent brokers to be able to capture a larger audience, and do more deals.Our ATS went live in July and gave us the freedom to push harder.

Noel Moldvai And Adam Crawley, co-founders Of Augment, On software-enabled Secondaries Markets

<ul><li>The first big secondary trading platform, SecondMarket, launched in 2009 and did $100M in transaction volume, growing to $360M in 2010 and $558M in 2011.</li><li>Now, we’re seeing the emergence of a new atomic unit of value that companies like AngelList, Carta, Sydecar and Allocations are going after—LP interests in funds and SPVs.</li><li>LP interests in funds and SPVs have the potential to unlock private markets liquidity because they sit on top of the cap table and can be traded permissionlessly, without company approval.</li></ul>

The first big secondary trading platform, SecondMarket, launched in 2009 and did $100M in transaction volume, growing to $360M in 2010 and $558M in 2011.Now, we’re seeing the emergence of a new atomic unit of value that companies like AngelList, Carta, Sydecar and Allocations are going after—LP interests in funds and SPVs.LP interests in funds and SPVs have the potential to unlock private markets liquidity because they sit on top of the cap table and can be traded permissionlessly, without company approval.

Sydecar And The New Atomic Unit Of The Private Markets

<ul><li>Sydecar, in brief, is an on-ramp for emerging venture capitalists.</li><li>Over the course of the last 14 months, we&#39;ve done north of 300 transactions, administering something like $400 million in transaction value.</li><li>The silver bullet then, would probably be the vision, which is around creating the standard—the one way to transact.</li></ul>

Sydecar, in brief, is an on-ramp for emerging venture capitalists.Over the course of the last 14 months, we&#39;ve done north of 300 transactions, administering something like $400 million in transaction value.The silver bullet then, would probably be the vision, which is around creating the standard—the one way to transact.

Nik Talreja, CEO Of Sydecar, On Powering The Future Of Secondary Trading

<ul><li>Today, closing a transaction in the private markets takes an average of three months—that’s a big hurdle to creating liquidity.</li><li>If there is more demand, there&#39;s going to be more supply, and today, people will wait to exit given no one offers any liquidity and the way their funds are structured.</li><li>It&#39;s becoming more complicated to do transfers unless you have company approval.</li></ul>

Today, closing a transaction in the private markets takes an average of three months—that’s a big hurdle to creating liquidity.If there is more demand, there&#39;s going to be more supply, and today, people will wait to exit given no one offers any liquidity and the way their funds are structured.It&#39;s becoming more complicated to do transfers unless you have company approval.

Q&A With Balthazar De Lavergne And Mathias Pastor At Semper

<ul><li>The traditional process for how to invest in a fund works like this.</li><li>Passthrough is building workflow automation software for fund management at a time when new funds, new LPs, and new VCs are everywhere.</li><li>What we do is go out, take their documents, and turn them into a workflow that looks like TurboTax.</li></ul>

The traditional process for how to invest in a fund works like this.Passthrough is building workflow automation software for fund management at a time when new funds, new LPs, and new VCs are everywhere.What we do is go out, take their documents, and turn them into a workflow that looks like TurboTax.

Tim Flannery, co-founder Of Passthrough, On Building TurboTax For Private Fund Investing

United States

Back-end infrastructure connecting brokerages, advisors, and custodians to private markets

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Monark (MONARK US)

Noel Moldvai And Adam Crawley, co-founders Of Augment, On software-enabled Secondaries Markets

What is Augment? What inspired you to build it...

Sacra

Sydecar And The New Atomic Unit Of The Private Markets

LP interests in SPVs are the next frontier, taking over from the cap table as the atomic unit of the private markets. Read our interviews...

Sacra

Nik Talreja, CEO Of Sydecar, On Powering The Future Of Secondary Trading

Sacra interview with Nik Talreja, CEO of Sydecar.

Sacra

Q&A With Balthazar De Lavergne And Mathias Pastor At Semper

Sacra Q&A with Balthazar de Lavergne and Mathias Pastor, co-founders of Semper.

Sacra

Tim Flannery, co-founder Of Passthrough, On Building TurboTax For Private Fund Investing

Sacra interview with Tim Flannery, co-founder of Passthrough.

Sacra

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