Latest / The Startup Exit Podcast with Fexingo: IPOs, Acquisitions, and Founder Liquidity Events
How Founders Use Structured Secondaries for Pre-IPO Liquidity
In this episode, Lucas and Luna explore how founders are using structured secondary sales to get liquidity before an IPO without sending a negative signal to the market. They break down a real 2026 case: a founder at a late-stage AI company who sold 15% of his stake through a carefully managed secondary process, using a tiered pricing mechanism and a six-month lockup on the remaining shares. They also discuss how the current market context — with high volatility in growth stocks and a backlog of private companies waiting to go public — makes secondaries a more strategic choice than ever…
The skinny
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