Venture Capital Firms

Venture Capital firms now have the ability to access the secondary market for greater financial flexibility and broader strategic opportunities. Opteris collaborates with the General Partners to customize a liquidity solution which meets the short-term and long-term goals for the fund and portfolio companies. Opteris only participates in mutually beneficial transactions. A secondary sale to Opteris can generate significant ROI on your cost basis.

Opteris holds and manages the assets we acquire. We will add value to your portfolio companies, bringing new relationships, fresh perspective, and dry powder for future follow-on needs.

Why Secondary?

  • Lock in positive ROI and hedge future returns
  • Reallocate capital within a portfolio
  • Manage follow-on capital commitments
  • Create flexibility for tax implications
  • Return capital to Limited Partners
  • Access market pricing for valuation purposes

Transaction Choices

Secondary Direct Transactions (or Strip-Sale Transactions): Specific assets within a portfolio are sold in a secondary transaction. Opteris works with the seller to choose portfolio companies which will achieve the best risk-adjusted return in a secondary sale. The seller can choose to sell all or part of its investment in a given portfolio company.

Stapled Transactions: A direct equity investment into the portfolio company coincides with a secondary transaction.

Portfolio Secondary Transactions (or Tail-End Fund Sales): All of the remaining assets in a fund are sold to the secondary buyer and the capital is returned to the Limited Partners.

Our Process

Screening: Based on publicly available information, we quickly determine whether a transaction meets our investment criteria.

Internal Diligence: At this point, we do not communicate with the portfolio companies directly. Opteris reviews the portfolio companies´ prior board packets, capitalization tables, and other available business and financial documents. Then, we collaborate with the General Partners to craft a liquidity strategy.

Detailed Diligence: Only after a feasible transaction is anticipated do we interview the management teams of portfolio companies. Then, we conduct detailed valuation of the individual equity securities.

Final Negotiations: We reach a mutually beneficial agreement.

Closing: Legal diligence occurs.

Portfolio Management: Opteris holds and manages the assets we acquire. We do not hire outside management firms or "flip" assets. As collaborative partners, we endeavor to maximize the value of assets under management.