3SPOKE

[3SPOKE @3SpokeCapital]

@3Spoke is excited to join other investors in supporting @GrubMarket, which was named to the @CNBC annual #Disruptor50 (2023 and 2024), with its continued revenue growth, AI tech innovation in food distribution and strong leadership.
https://t.co/Ba546pAuGX

[3SPOKE @3SpokeCapital]

Congratulations to Cohere on its announced acquisition of Aleph Alpha. The company is focused on providing an alternative to cloud-based hyperscalers, enabling customers to retain control over their data and infrastructure.
https://t.co/L09Z6bjx9H

[3SPOKE @3SpokeCapital]

@3SpokeCapital closes $45M structured secondary to a prominent VC GP. 3SPOKE obtained carried interest & direct exposure to multiple high-performing VC funds and 30+ VC-backed co.’s, incl. Databricks, Deel, Axiado, & TAE Technologies. https://t.co/dZ1xE4nuMF

[3SPOKE @3SpokeCapital]

@cerebral announced its acquisition of Resilience Labs to enhance its mental health services and expand access to resources, noting “This acquisition marks a major milestone in our mission to deliver high-quality, integrated mental healthcare.”
https://t.co/GIj1GTrjaN

[3SPOKE @3SpokeCapital]

Congratulations to @Heartflow (NASD: HTFL) on its successful IPO, pricing ~16.7M shares at $19.00/share, to raise $316.7M. The medtech company developed a diagnostic platform aimed at transforming the diagnosis and management of coronary artery diseases.
https://t.co/zToEzmxyh9

[3SPOKE @3SpokeCapital]

3Spoke Liquidity Partners is pleased to announce the successful closing of a $75M Structured Secondary transaction with the corporate venture capital arm of a public entity, backed by direct interests in 14 global venture capital-backed companies.
https://t.co/c1gAlBz2Aw

[3SPOKE @3SpokeCapital]

Congratulations @FBNFarmers on the recent $50M venture round. FBN highlighted they will use the recent funding to deploy AI-powered tools and expand the Ag Commerce, Financing, and Farm Intelligence product lines.
https://t.co/iCRcg3F8HR

[3SPOKE @3SpokeCapital]

Congratulations to @eToro (“ETOR”) for pricing its public listing above the expected range with expected market capital at listing of $4 billion, a leading trading platform for people to buy and sell stocks, cryptocurrencies, and other assets.
https://t.co/Sy57aAlsKo

[3SPOKE @3SpokeCapital]

2024 secondary market had record-breaking deal volume. The @Lazard Secondary Market Report offers a considerable deep dive and interesting insights, with alternative structures were increasingly common as LPs utilized options in lieu of direct LP sales. https://t.co/IT0aBwwTzw

[3SPOKE @3SpokeCapital]

Large, recognizable venture names continue to attract 2024 secondary market attention with revenue multiples moving much higher, for example; SpaceX (54x), Anthropic (45x), Databricks (27x) and Anduril (20x).
Check out the PM Insights report.
https://t.co/xW7Gpbvhtn

[3SPOKE @3SpokeCapital]

Renewed interest in venture and growth assets has notably shifted the secondary pricing discounts for these funds. Campbell Lutyens report outlines an increase over H1 2023 by 17%, bringing the average transaction pricing discount to roughly 31%.
https://t.co/lPuW9IaNgG

[3SPOKE @3SpokeCapital]

The @BGequity white paper “Demystifying Company Led Secondaries” is great coverage of the venture landscape and highlights the range of motivations across stakeholders for liquidity solutions.

https://t.co/V2AmKpvFcX

[3SPOKE @3SpokeCapital]

Excellent research piece from @Pitchbook covering the ongoing drought of venture liquidity. The result is an expectation for lowest number of VC-backed IPOs since 2016 and lowest annual fundraising since 2019.
https://t.co/eOroIJsF4e

[3SPOKE @3SpokeCapital]

Huge congratulations to @3SpokeCapital portfolio company @Lendio which entered a collaboration to integrate its technology with global financial technology company @FISGlobal. #smallbusinesslending #Innovation
https://t.co/BmFE2C81PR

[3SPOKE @3SpokeCapital]

Many companies may continue waiting as the IPO market starts to turn. As @TomaszTunguz outlines, the revenue at IPO has doubled, with the median revenue of $90m in 2017 to $189m today.

https://t.co/Byowy86NYL

[3SPOKE @3SpokeCapital]

“DPI is the new IRR.” Funds raised in the 2019 – 2022 period are well behind prior years in terms of Distributions to Paid-in capital (“DPI”) by as much as two-thirds. Easy to understand why secondaries broadly are so busy.
https://t.co/t6BaFULDpu

[3SPOKE @3SpokeCapital]

Secondaries continue growing with a focus on “high-quality” buyout assets at compelling discounts as a result of undercapitalization. @3SpokeCapital would argue a larger imbalance in the venture as investors remain cautious from 20/21 valuations.
https://t.co/dDDMEdLSmb

[3SPOKE @3SpokeCapital]

@3SpokeCapital continues to keep an eye out for any “green shoots” and is happy to have exposure to @rubrikInc which recently completed its public offering after filing its Form S – 1 last month.

https://t.co/ZYzh6hTUbN

[3SPOKE @3SpokeCapital]

@harman1225 joins @3SpokeCapital as Principal.

In an interview with @SecondaryLink, Matt Harman sheds light on 3SPOKE’s unique venture secondaries strategy, along with his reasons for joining the firm.

Read full article on SecondaryLink: https://t.co/dp03wVKCFk

[3SPOKE @3SpokeCapital]

@3SPOKE is excited to welcome @harman1225 as Principal to our expanding efforts of providing liquidity solutions across venture capital and growth equity assets. Matthew brings a wealth of perspective and will be a critical player in 3SPOKE’s evolution.
https://t.co/VvdwLPElh4