4 min read
PISCES: Why liquidity is no longer just a late-stage concern
For most startups, liquidity has usually been something that isn’t thought about in too much detail until the very end. Whilst you may consider your...
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4 min read
For most startups, liquidity has usually been something that isn’t thought about in too much detail until the very end. Whilst you may consider your...
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Private markets are at an inflection point. Secondary transaction volumes hit $240 billion globally in 2025, up 48% on the year before.
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Secondary markets, where existing shareholders sell stakes to new investors without a company going public or being acquired, have grown considerably...
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It’s becoming more common – and more necessary – for private companies to offer early shareholders a way to realise some value without raising new...
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If you've built a thriving business, chances are your shareholders (or perhaps you yourself) would like to unlock some of that hard-earned value...
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When we talk about shares changing hands, most people think of the stock market. But what about before companies go public?
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The concept of inviting employees to participate in the long-term success of a company, as opposed to simply being the recipients of a salary every...
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Equity in early startups tends to be highly illiquid, meaning you can’t easily convert it into cash. It’s tough to know a startup’s true value until...