Venture Secondaries

Venture Secondaries is the newsletter powering the world’s only venture capital secondary network. Get inside the room with the GPs, LPs, and operators of "The SecondaryNet.work."

By Alexandre Covello

· Launched a year ago

SpaceX Didn't Just Exit. It Refunded the Entire Venture Industry.

Everyone is talking about what SpaceX employees will buy. Nobody is talking about what they will fund.

Jun 15•Alexandre Covello

Secondaries: The Market That Doesn’t Exist. Yet.

A panel report from the London Venture Capital Network Summit — London, Guildhall, 15 May 2026

May 16•Alexandre Covello

The secondary market has a dirty secret. It was never built for you.

This is not a failure of the market. It is a feature of it.

May 12•Alexandre Covello

OpenAI vs Anthropic: The Secondary Market Has Already Picked a Side. Are You on the Right one?

The AI Secondary Market Just Rotated. Here's What It Means for Private Market Investors.

Apr 4•Alexandre Covello

The (so-called) "IPO" that rewrites the exit equation

Lise just ran the world’s first tokenised IPO. Here is why secondary market practitioners should pay attention—and why the harder questions remain…

Apr 2•Alexandre Covello

🇪🇺 State of the European Unicorns Ecosystem: Stress Test of Europe's 199 Unicorns.

What is Europe's unicorn ecosystem actually worth today?

Mar 31•Mighty Nine

The Great Integration Continues

From Goldman to EQT, private markets are no longer an asset class — they are becoming infrastructure.

Jan 23•Alexandre Covello

The Liquidity Duopoly: How the US and China Built a Multibillion Structural Gate and Left The Rest with a Mirage

The global pre-IPO landscape is not merely competitive; it has effectively bifurcated.

Nov 22, 2025•Alexandre Covello