Investors raise billions to buy discounted stakes in start-ups
San Francisco | New York | Investment firms are raising billions of dollars to buy stakes in venture capital-backed technology start-ups, as a long drought in acquisitions and initial public offerings forces early investors to offload their stock at discounts.
The start-up secondary market, where investors and employees buy and sell tens of billions of dollars’ worth of shares in privately held companies, is becoming an increasingly important trading venue in the US, in the absence of traditional ways of cashing out and given a slowdown in start-up funding.
Financial Times
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