The sale of private company shares on the secondary market is becoming increasingly prevalent as the timelines to reach a liquidity event have lengthened over the last decade with a slowing of the IPO market. A secondary transaction can be an important source of partial liquidity for founders, executives, and early employees in addressing a variety of life event circumstances including divorce, the purchase of a home, or funding college tuition. Often, these events cannot be planned or predicted and this demand for partial liquidity does not neatly line up with the market timelines to exit/liquidity.
 
Secondary transactions can also be a strategic management tool to address a critical emerging need: the retention and motivation of key employees. Providing partial liquidity can alleviate financial pressures, motivate staff, and redouble the commitment of employees for the long-term
 
Join us for a panel discussion that will explore secondary transactions and look at the following areas of interest:

• Identifying the right secondary buyer/investor
  • Professional and trusted with extensive secondary experience
  • Deep experience in VC, Silicon Valley “Insider”
  • Value-added investor and long-term perspective

• Managing the process by the company and the board
  • Creating a structure that provides partial liquidity to employees which allows them to focus on growing the company
  • Controlling the cap table
  • 409A considerations
  • Control of information
  • Partnership with company and on-going partial liquidity