Charles HudsonFounder and Managing Partner, Precursor Ventures

The Future of Secondary Sales #venturecapital #tech #investing #ai

12 Mar 2025 · 0 min

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Charles Hudson discusses why the next decade could change for venture secondaries: more Series B and C rounds now carry investor expectations of secondaries for early shareholders, and there is an increasing amount of dedicated capital flowing into venture secondaries, meaning more potential buyers beyond lead investors.

Here's why I think the next 10 years could be different. I think increasingly there are more Series B and C rounds where the investor expectation is that if you were early, there will probably be a secondary. But right now that secondary sale is oftentimes sponsored and organized by the lead investor, and so long as the lead investor has appetite for the shares and a big enough fund, they can do it themselves. There is more money than ever flowing into venture secondaries in terms of dedicated funds, which to me means there will be more people hanging around the hoop who can buy.