The Rise of the Secondary Market in Venture Capital

This chapter explores the rapid expansion of the secondary market within the venture capital sector, noting its growth from $25 billion to an estimated $120 billion. It discusses the implications of companies remaining private longer, creating a demand for liquidity and showcasing the emerging role of Chief Liquidity Officers. Furthermore, the chapter analyzes the operational differences among players in this market and draws parallels to real estate trading, emphasizing the importance of market dynamics in shaping investment strategies.