Private Markets

Secondary Sale

Definition

What is Secondary Sale?

The sale of an existing private investment interest to another investor.

Example in practice

An early shareholder sells shares to a growth-equity fund.

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Investment in privately held companies, often with active ownership and a multi-year exit plan.

Equity financing for young, high-growth companies with substantial uncertainty.

An individual who invests personal money in early-stage companies.

A preliminary document outlining the main commercial terms of a proposed investment.

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