Novirian Capital

Novirian sources transactions by maintaining continuous contact with venture general partners, corporate venture arms, banks, insurance companies, and founders seeking liquidity. The firm's San Francisco location places it near many of the selling institutions and companies. It acquires both single-company stakes and entire fund portfolios, and has completed several such negotiated secondary purchases to date, per the firm.

Day-to-day investment leadership comes from co-founders Alessandro Biral (Managing Director) and Esfandiar Lohrasbpour (Senior Advisor), alongside Managing Director Ale Vigilante. The firm states that these principals have completed a number of direct secondary transactions involving single companies and venture fund portfolios.

Novirian positions itself strictly as a secondary direct acquirer. It purchases existing equity positions from current shareholders rather than participating in primary fundraising rounds. The firm may, however, lead new financing rounds for portfolio companies after acquiring a secondary position.

Sellers include venture GPs managing funds near end-of-life, banks and insurers reducing venture exposure, corporations rebalancing strategic investment arms, fund-of-funds cleaning up orphaned portfolios, and founders seeking partial liquidity. Novirian structures negotiated transactions with each of these counterparty types.

Novirian is structured as a private equity asset manager. It operates venture funds backed by large global institutional investors that specialize in the secondary market, not as a single-family vehicle. The firm manages total committed capital exceeding $100 million.