PV is excited to introduce our first Special Opportunity Fund, a complementary opportunity.
The objective of this special purpose Fund is to acquire securities from early investors and employees in late-stage, iconic technology companies. Our thesis is to buy these securities at a fair market value and sell them into a liquidity event such as IPO or private equity mega-round within one to three years.
While large secondary markets exist in the US, Canada has lagged behind due to a lack of growth-stage companies and associated growth capital. However, we now have a good number of companies reaching maturity ($30M+ in revenue and a clear line of sight for a large growth round or IPO), and our team recognizes a unique moment in time to take the lead on this product category for Canada.
A Relationship-Based Opportunity
Operating from an ethos of transparency and alignment of interests has allowed us to build strong relationships with high net worth investors and CEOs. These relationships are now bringing us the direct secondary securities market opportunity, organically. Early investors are seeking liquidity at a fair value after several years of holding private shares. CEOs want their cap tables rationalized before heading into M&A or private equity funding. All parties benefit from a managed, open process approved by the companies themselves.
So far, the market feedback has been very positive. Angel investors have confidence in us, and the CEOs of the companies that we are interested in have given us their full support. We are grateful to this community of angel investors for supporting the early visions of each of these companies and for sharing their access with us.