Private Markets, Angel and Secondary Investing, Sacra

Sacra

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 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>There&#39;s a confluence of things that are happening. One is Anduril&#39;s success, and that relates to whether there&#39;s actual economic success, polymers, carnival barker-like skills in talking about the success, and Palantir being a public version of that as well.</li><li>The two things that do happen, and this is the things that are very, very, very difficult, and they&#39;re very real. One is that the needs are so often written in a bespoke way that it&#39;s very, very, very difficult for someone that isn&#39;t doing custom development of hardware and software, to sell a product.</li><li>The second weight in the business is the budgeting cycles are really two years long. So, every enterprise piece of software is either trying to get some predictability, like ‘we land and expand, it&#39;s 50K, but eventually they&#39;ll pay us a million bucks.</li></ul>

There&#39;s a confluence of things that are happening. One is Anduril&#39;s success, and that relates to whether there&#39;s actual economic success, polymers, carnival barker-like skills in talking about the success, and Palantir being a public version of that as well.The two things that do happen, and this is the things that are very, very, very difficult, and they&#39;re very real. One is that the needs are so often written in a bespoke way that it&#39;s very, very, very difficult for someone that isn&#39;t doing custom development of hardware and software, to sell a product.The second weight in the business is the budgeting cycles are really two years long. So, every enterprise piece of software is either trying to get some predictability, like ‘we land and expand, it&#39;s 50K, but eventually they&#39;ll pay us a million bucks.

Ross Fubini, Managing Partner At XYZ Capital, On The Defense Tech Opportunity