Lunch & Learn on Secondary Markets

A big thank you to everyone who joined and actively participated in our Lunch & Learn session on the secondary market! Special thanks to our outstanding speakers:

• Rando Rannus, General Partner, Siena Secondary Fund
• Simon Schachinger, Partner, Orbit
• moderator: Iwona Cymerman, GP, FundingBox Deep Tech Fund and EWVC member

Here’s what we discussed:

• What exactly are secondary markets – a term with many interpretations, but one thing is certain: the market is growing. In 2023, secondary transactions accounted for 24% of the global market, a rise from 18% in 2022.
• The main part of our discussion centered around pricing secondary transactions. How do you determine the right price when buyer and seller expectations differ? Are earnouts a common option?
• Finally, we looked ahead – does the secondary market have a future? All signals point to yes – longer deal cycles, the need for liquidity, and an increasing number of new players (including from the US) indicate that the secondary market is becoming more significant and evolving in a more sophisticated way.

Thank you to the speakers for their valuable insights and to all the participants for their engagement!