Millennium Technology Finds Boon In Secondary Sales, Makes 6X Return on ArcSight
Despite all the fuss about secondary sales, such transactions are a booming business for firms such as Millennium Technology Value Partners. The New York VC firm has completed 300 secondary liquidity transactions in the past nine years, valued at over $500 million in assets, says Samuel Schwerin, a Millennium managing partner. Secondary liquidity events, or secondary sales, refer to shareholders selling their positions or investments in pre-IPO companies to other investors. Schwerin expects such deals to become a $10 billion business within five years. This year, secondary sales are expected to hit more than $3 billion, up from the $1 billion in 2009, he says.
15 October 2010•4 mins read
