Turbine raises $22M to help VC investors get cash without selling their stakes

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TechCrunch 21h ago

Turbine raises $22M to help VC investors get cash without selling their stakes - TechCrunch

Quick Summary:

Since IPOs slowed to trickle a few years ago, limited partners who invest in venture capital funds have had one giant problem: a dearth of liquidity.

Alternatively, the LP could have tried to sell their stake (known as LP interest) in the fund, but those deals “come with significant discounts,” Garrard said, meaning the LP would likely have to sell the stake for less than it was worth.

The company is coming out of stealth on Friday and announcing that it has raised a total of $22 million in equity funding co-led by Alpha Edison and TTV Capital with the participation of Fin Capital, B Capital, and Sozo Ventures.