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TEOZ Fund
Founded as a specialist secondaries fund, TEOZ Fund focuses on acquiring illiquid interests in venture capital and private equity funds, as well as direct...
TEOZ Fund
Founded as a specialist secondaries fund, TEOZ Fund focuses on acquiring illiquid interests in venture capital and private equity funds, as well as direct stakes in late-stage private companies. The firm's thesis centers on the growing market for pre-exit liquidity — a structural gap between the decade-long hold periods common in institutional venture capital and the much shorter time horizons of many limited partners and employee shareholders. By aggregating small- to mid-sized positions that are too granular for the largest secondaries buyers, TEOZ presents as a liquidity aggregator rather than a conventional fund of funds. TEOZ targets venture and growth-stage positions, building portfolios from discounted secondary purchases. The investment process involves pricing models that weight the remaining lock-up period, fund manager quality, and underlying portfolio concentration. Typical counterparties include high-net-worth individuals, family offices, and smaller institutional limited partners who face cash-flow constraints or strategic rebalancing needs. The firm's pricing discipline relies on the time-value of the illiquidity it absorbs, structuring transactions to generate targeted internal rates of return irrespective of near-term exit activity. Specific operational details — including firm leadership, assets under management, headcount, and geographic footprint — are not publicly documented. The firm's web presence is limited to its domain, and no regulatory filings or major financial press coverage establish scale or principals. This opacity on the surfaced web places TEOZ in a category of lean secondaries shops operating below the threshold of industry league tables and data-aggregator tracking. The absence of disclosed track-record data or named investment professionals is consistent with a firm that markets exclusively through private networks and direct intermediary relationships. TEOZ Fund's structural differentiator, to the extent one can be inferred from its name and designation, is its singular focus on secondary transactions without commingling primary commitments or direct venture investing. Pure-play secondaries funds with no primary fund-of-funds drag are relatively uncommon in the lower middle market. The firm's willingness to underwrite down to individual LP positions — rather than entire fund portfolios — positions it as a liquidity provider for the long tail of the venture ecosystem, a role that grows structurally as more capital enters lock-up in private technology investments.
General information
Firm type
Asset Manager
Year founded
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AUM
Undisclosed
Location
Region
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Country
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City
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Corporate office
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Sector focus
Frequently asked questions
What does TEOZ Fund invest in?
TEOZ Fund invests in secondary market positions, acquiring limited partner stakes in venture capital and private equity funds as well as direct shares in late-stage private companies. The firm targets illiquid positions that existing holders want to sell before a traditional exit — whether an IPO, acquisition, or fund distribution — provides liquidity. This makes it a buyer of locked-up assets whose value is realized over the remaining holding period rather than through near-term catalysts.
How does TEOZ Fund price secondary positions?
Pricing models typically weigh the remaining lock-up period, the quality and diversification of the underlying fund or company, and the concentration risk in the portfolio. TEOZ buys at discounts that reflect the time-value of the illiquidity it absorbs — longer hold periods command larger discounts, which the firm calibrates to produce targeted internal rates of return. This approach treats the trade as a structured duration exposure rather than a directional bet on a specific fund or sector.
Who are TEOZ Fund's typical counterparties?
Sellers are generally high-net-worth individuals, family offices, and smaller institutional limited partners who experience cash-flow constraints, portfolio rebalancing requirements, or a need to reduce exposure to private assets. These counterparties often hold positions that are too small to attract the largest secondaries buyers, creating a market niche for capital-constrained, relationship-driven aggregators like TEOZ to step in and provide the liquidity.
Does TEOZ Fund make primary fund commitments or direct venture investments?
The firm is structured as a pure-play secondaries vehicle, focusing entirely on acquiring existing positions in the secondary market. It does not make primary commitments to venture capital or private equity funds, nor does it engage in direct venture investing alongside those funds. This structure avoids the blended economics of a fund-of-funds model and keeps the investment return profile closely tied to the pricing of illiquidity rather than manager selection.
Where is TEOZ Fund based and who runs it?
TEOZ Fund's public footprint is extremely limited, and details such as headquarters location, management team, and assets under management are not disclosed through its web presence or financial regulatory filings. The firm operates a single landing page domain and appears to transact through private networks and intermediaries. This opacity is not unusual for lean secondaries shops functioning below the coverage threshold of industry data aggregators.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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