Partner Ventures

Partner Ventures, based in Portola Valley, United States, operates as a specialized "secondary direct" venture capital fund. Unlike traditional venture capital firms that primarily invest in primary fundraising rounds, Partner Ventures focuses on acquiring existing equity stakes directly from founders, early employees, and other investors in late-stage, privately held companies. This unique investment strategy provides liquidity to long-term shareholders who might otherwise have limited options to monetize their holdings before an IPO or acquisition, while simultaneously offering Partner Ventures access to mature, high-growth companies that have already demonstrated significant market traction and product-market fit.

The firm's approach allows it to bypass the typical primary fundraising competitive dynamics, instead engaging in bespoke transactions tailored to the needs of sellers. This often involves acquiring shares in companies that are already well-established, frequently valued at unicorn status or higher, and are on a clear path towards a liquidity event. Partner Ventures' expertise lies in valuing these private secondary interests and structuring deals that benefit both the selling party and the fund's limited partners.

Partner Ventures has successfully raised significant capital to pursue its strategy. Its inaugural fund, Partner Ventures Fund I, closed with $100 million in commitments, demonstrating early investor confidence in their specialized model. Building on this success, the firm subsequently raised Partner Ventures Fund II, which secured an even larger capital pool of $150 million. These substantial fund sizes enable Partner Ventures to execute meaningful transactions, acquiring significant positions in highly sought-after private companies across various sectors, including enterprise software, fintech, and consumer technology.

Given its fund sizes and focus on late-stage secondary transactions, Partner Ventures typically deploys substantial capital in each investment. While specific check sizes can vary based on the opportunity and the size of the stake being acquired, the firm generally makes initial investments ranging from $2 million to $25 million. This range allows them to acquire meaningful positions in companies that are often valued in the hundreds of millions or even billions of dollars, aligning with their strategy of investing in mature, de-risked private assets.