After significant valuation discounts from 2020/2021 reference levels combined with an overall lack of transactional interest in venture assets, secondary volume for venture and growth equity increased in the first half of 2024. This was the first improvement in a couple years as valuations began to stabilize, as noted in the Campbell Lutyens H1 2024 report. Notably, volumes for LP-led venture and growth funds grew by 135% over H1 2023, up by nearly $2bn. Renewed interest in venture and growth assets has notably shifted the secondary pricing for these funds. The report outlines an increase over the first half of last year by 17%, bringing the average transaction pricing discount to roughly 31%. https://lnkd.in/eRH7BGP9
The secondary market continues to thrive, with H1 2024 deal flow hitting record highs and transaction volumes surging by 72% year-over-year to $69B. According to our latest report, as traditional exits slow, sponsors and LPs are increasingly turning to secondary solutions, fueled by a strong fundraising environment and ample dry powder. Read the full report here: https://lnkd.in/exMHyWJn #SecondaryMarket #Secondaries #Investing #MarketInsights