New Secondary Fund Aims to Capitalize on Venture’s Liquidity Crunch
Venture-capital firms have struggled to return capital to investors over the past several years with public listings drying up and M&A activity sputtering. Anew fund aims to capitalize on this liquidity crunch.
Scenic Management, a late-stage, private growth-equity investment manager, is raising a $150 million sophomore fund, doubling down on its strategy to purchase shares of private companies from early-stage venture firms and senior-level employees. Scenic Management has raised a variety of co-investment special-purpose vehicles.
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