Liquid Stock

The firm purchases vested common and preferred shares from employees, founders, and early investors in late-stage, venture-backed technology companies. It does not buy entire portfolios from other funds, distinguishing it from large-scale secondary buyers like Lexington Partners. Transactions are structured as direct, negotiated purchases of individual shareholder positions.

No. Liquid Stock's strategy is confined to the secondary market. The firm does not lead or participate in primary funding rounds. Its capital enters companies by acquiring existing shares from current holders, not by funding the company's balance sheet directly.

The firm focuses on late-stage, privately held technology companies in sectors such as enterprise software, fintech, and select consumer technology. Target companies are typically US-based, with significant representation from the San Francisco Bay Area and Los Angeles ecosystems, where prolonged periods of private ownership concentrate employee stock.

Purchases are generally executed through privately negotiated bilateral agreements or tender offers. Each transaction must navigate the issuing company's right of first refusal, transfer restrictions, and board-consent provisions. Liquid Stock functions as a known, repeatable counterparty that founders and company counsel can evaluate once and approve for multiple employee transactions over time.

Liquid Stock is a principal buyer, not a broker-dealer or an electronic marketplace. It deploys committed capital to acquire shares directly onto its own balance sheet or into dedicated vehicles. Sellers receive cash at a negotiated discount to the last primary valuation, and Liquid Stock holds the position until a liquidity event, most commonly an IPO or acquisition.