700+
Access through founders and C-levels
Our community counts more than 700 founders and senior executives from tech unicorns. That is where allocations and secondary blocks come from, often before anyone else hears about them.
Built for
Family offices
Private banks
Asset managers
Late-stage tech is where the returns are. We bring you in.
We open private tech companies for your clients, from early stage to late stage and pre-IPO, whether in primary or secondary. We find the deals and do the work, so you do not need a private-markets desk of your own.
The market
Most value and returns are
Most value and returns are
created before the IPO, while
companies are still private.
The best tech companies stay private for over a decade. The median US company listing in 2024 was 14 years old, against 6 in 2000. By the time they list, most of the growth has already happened. Secondaries are how investors buy into that growth before the IPO, and the market has never been this deep.
Global secondary volume
USD billions2024 derived from the 48% growth reported for 2025. 2026E is Jefferies' full-year outlook. Sources: Jefferies 2025 review, Jefferies July 2026 review.
Why it belongs in a client portfolio
01
A multiple, not 2 points a year
The comparison that matters is the window. A late-stage deal targets 2 to 3 times in 12 to 18 months. Over that same stretch, the S&P 500 does about 1.2 times.
8x vs 4.4xlargest private tech names, Dec 2014 to Feb 2025 · Morningstar
02
Diversification, with risk kept in check
We buy companies already worth several billion dollars, with real revenue and tier-one investors on the cap table. The risk is real, but it is not seed-stage risk.
03
Liquidity exists
Shares in these names trade every week. Our app lets each investor post a buy or sell order at any time, and IPOs are back: SpaceX listed in June 2026.
The gap
Your clients want this exposure. Getting it right is hard.
01 · Access
The best allocations never reach the open market.
Late-stage rounds and clean secondary blocks are allocated through relationships with founders, executives and early holders, not through a catalogue.
02 · Knowledge
Beyond the top ten names, the market is opaque.
Everyone knows OpenAI and SpaceX. Telling a great $3B company from an overpriced one takes a full-time, tech-only view of the market.
03 · Tooling
No tool takes a deal from your desk to the client.
Sharing the opportunity internally, reaching the right clients, then handling the relationship, signature and subscription: today it is spread across email and PDFs.
What we bring
One partner for access, judgement and execution.
We work hand in hand with your team and adapt to the process you already run. You keep the client relationship, we bring the deals and the machinery.
15 yrs
Ex-founders, tech only
We have built companies in tech for fifteen years and we only invest in tech. That focus is what lets us read market trends early and price a deal with conviction.
Any ticket size
Ticket size from $25k to millions. One product for any client, thanks to the technology behind it.
A free white-label app
Fully customisable, free and optional. Your team sees every deal; you decide how far your clients go inside it. See the app
Pooled tickets, better terms
We pool cash from many private banks and family offices. Bigger cheques win better prices, better terms, and access to company information.
Our thesis
Big enough to be safe. Small enough to still multiply.
$1–10B
The sweet spot
Tech companies valued between $1B and $10B: proven, funded, and still early in their value curve.
2–3x
In 12–18 months
Our target on each late-stage deal, with room for more when the company keeps compounding.
Longer
If you want to stay
Clients who want to remain invested longer can. Exiting is a choice, not a deadline.
Direct
On the cap table
We invest directly on the company's cap table, except on late names like Anthropic, SpaceX or Revolut, where direct access is no longer offered.
Our story
Four years in the market. Late stage is now our core.
We started with early-stage deals. Eighteen months ago we added late-stage secondaries, and they quickly became most of what we do.
Late stage & secondaryEarly stage
~1
deal shared per month
34
positions, including write-offs
Year 1 to 3
Early-stage investing
Pre-seed to Series A deals in software, fintech and AI, built on our founder network.
Since spring 2025
Late-stage secondaries
Unicorns bought from early holders and in pre-IPO rounds, at a discount when we can.
2026
First realised exit
Anthropic partial exits in July and October. SpaceX listed in June, three months after we came in. Mercor partial exit in October.
Now
A partner for banks and family offices
Opening our deal flow, our diligence and our app to institutions that want a reliable source of late-stage tech.
Track record · late stage
Conviction, converted into returns.
Three exits first. Anthropic is the large multiple. SpaceX and Mercor are the other paths out.
AtomsPhysical AI
Physical AI is the new wave.
Travis Kalanick, ex Uber founder. Atoms is his new company, focused on physical intelligence, with data, software and robotics, all in one. The sector took in $47.4B in the first half of 2026.
- Round
- July 2026, led by a16z
- Our entry
- Same round, +2.5%
- Target
- 2x in 6m-12m / $100B in 18m-24m
- Founded
- 2016
- HQ
- Los Angeles
- Website
- atoms.co
EtchedAI chips · direct on the cap table
A chip built only for AI.
A chip built to run only transformer models, the architecture behind every large AI model. A general GPU keeps much of the chip for flexibility these models do not need. Etched puts that silicon into one job. The valuation doubled in a month.
- Last round
- $21B, August 2026
- Our entry
- $30B, direct on the cap table
- Reported talks
- New round at $40B
- Founded
- 2022
- HQ
- San Jose
- Website
- etched.com
Conviction
We invest only where the work is done.
Each name comes with a full read of the market, not a one-page teaser. Here is the memo investors can open on Atoms.
Check the memoInterest, in the memo
Investors can register directly. Less back and forth for your team.
Or your own process
We adapt to each partner, tailor-made to how you already work.
Portfolio
Latest 2 years of deals done, among 34 investments made.
| Company | Date | Type | Entry valuation | Latest valuation | Multiple | Status |
|---|
Multiples are gross unless stated, on entry versus latest confirmed price (priced round, confirmed secondary transaction or, for SpaceX, the listed share price on 8 Oct 2026). Early-stage positions without a new priced round are held at cost. Past performance does not predict future returns.
How we work
Institutional process, built for speed.
Legal counsel
Cooley
We work with Cooley, the leading San Francisco law firm with global offices, counsel to many tier-one VCs, unicorns and listed tech companies.
Regulation
A regulated framework
Every deal runs through a regulated structure, with KYC and KYB on both buyers and sellers. We are completing our own full regulatory set-up.
Vehicles
Our own vehicles
We are setting up our own investment vehicles so we control the full process end to end, from allocation to reporting.
Ongoing
We source
Allocations and secondary blocks from our founder and executive network.
Before sharing
We diligence
Strong internal due diligence, written up in a full investment memo.
D-10
We preview
The deal is shared 10 days before commitments open, so your team and clients have time.
2 weeks
Commitments
From opening to all cash committed and ready to sign and wire.
Closing
Documents
Every document is in the investor account, or sent by email if you skip the app.
Any time
Liquidity
Each investor can post a buy or sell order whenever they want, to exit or double down.
10 daysPreview: memo and documents
~2 weeksCommitments open, cash gathered
Sign & wireThen the position is live
The app gives individual investors the flexibility to buy or sell at any time. It does not guarantee liquidity: a sale needs a matching buyer.
Fees
Simple fees. We earn when your clients earn.
One entry fee, no running costs, and a share of the profit only if there is one. No management fee eats into returns while you wait for the IPO, and nothing is charged when you exit.
6%
Entry fee
Charged once, at subscription. It covers sourcing, diligence, legal work and the vehicle.
0%
Management fee
Nothing to pay year after year, however long the position is held.
0%
Exit fee
No charge when the position is sold, on our app, in a secondary or at IPO.
20%
Carry
A share of the gain, only on profit. If clients do not make money, neither do we.
Partner terms
We agree the terms with each partner so that everyone comes out ahead: your clients, your desk and us. Volume, pooling and how you work with your clients are all part of that conversation.
Let's work together
Everyone at the table gets more.
The more partners pool with us, the bigger the cheque, the better the terms, and the better the access. We build the set-up with you, around how your desk already works.
Your clients
Late-stage tech names before the IPO, with diligence done and liquidity options.
Your desk
A differentiated product and a new revenue line, without building a sourcing team.
Your bankers
Every live deal, memo and document in one app, free and in your colours.
All partners
Pooled cheques that win better terms than any of us would alone.