What is a Secondary Venture Capital Fund and Why Do They Exist?

When a Limited Partner commits capital to a standard venture capital fund, that commitment is typically 10 – 12 years in length. The time from first capital invested until all capital returns are distributed back to the LPs can even stretch to 15 years, even in successful venture capital funds. Likewise, early founding employees in [...]

By | November 14th, 2016|Perspectives|Comments Off on What is a Secondary Venture Capital Fund and Why Do They Exist?

The Past, Present & Future of Venture Secondaries

The first dedicated fund to focus on the purchase of venture capital assets was the Venture Capital Fund of America, or VCFA, founded by Dayton Carr in 1982. VCFA focused on the purchase of LP positions in venture capital funds to provide the Limited Partner investors in those funds liquidity well ahead of the projected [...]

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Supply and Demand in Venture Secondary Portfolio Purchases

Longer average times to liquidity and maturing venture capital portfolios are leading to an increased supply of secondary purchase opportunities. The average time to liquidity for a venture backed company increased from just 3.3 years in 1999 to over 6 years currently (Thomson Reuters private equity fund database, July 25, 2016). Assuming that most secondary [...]

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Inphi to Acquire ClariPhy Communications

SANTA CLARA, Calif., Nov. 1, 2016 – Inphi Corporation (NYSE: IPHI), a leading provider of high-speed data movement interconnects, today announced that it has signed a definitive agreement to acquire ClariPhy Communications Inc., a leading provider of ultra-high-speed systems-on-chip (SoCs) for multi-terabit data, long haul and metro networking markets for $275million in cash as well [...]

By | November 13th, 2016|News|Comments Off on Inphi to Acquire ClariPhy Communications