Tomasz Tunguz: Secondaries as the new IPO is no passing fad—it’s a VC evolution

fortune.com/article/venture-capital-secondaries-exits-startups-ipos

As venture capital has matured, growing 5x over the last 12 years to $350 billion, the scale of private holdings has never been greater. With the exit markets quiet and with both regulatory and market forces bringing uncertainty, there's an increase in pressure for exits. The VC business…

This story appeared on fortune.com, 2025-04-29 14:59:30.
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