Friday Letter

With start-ups staying private longer, some companies are turning to the secondaries market to appease employees and investors hungry for a payout.

A common practice for buyout funds, pre-marketing may become more popular in VC as firms contend with LPs cutting back allocations and slowing their commitment pace.

Despite political headwinds, climate-focused VCs are still able to raise new funds, but it is more challenging and takes much longer than it used to.

Our guide to VC secondaries buyers has grown to 31 firms managing just under $95bn.

Ninety-three out of 100 mid-market North American private equity and VC execs expect to attract capital from new geographic regions over the next two to five years, fund administrator Ocorian reports.

VCs need an average of 18 months to reach a final fund close, twice the number of months they needed in 2021.

Defying the decline in fundraising by the overall venture industry, the world’s 50 largest VC firms are raising record amounts of capital.

A preview of our upcoming cover story on continuation vehicles.

The successful debuts of fintech Chime Financial and space tech company Voyager Technologies bring the total number of VC-backed IPOs this year to eight.