Given the continued and growing interest in special purpose vehicles (“SPVs”) as a means of accessing private market investments, we are publishing a series of posts that examine different aspects of these structures. This post is the first in that series and focuses on how a single-investment SPV is structured.
An SPV allows investors to…
Webinar | April 22, 2026
12:00 p.m. – 1:00 p.m. ET
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As mature private companies grow larger and more complex, a sophisticated investor relations strategy becomes essential. Clear, differentiated communications, paired with strong media visibility, can help strengthen reputational capital and even influence market valuation as companies move toward a liquidity event.…
Webinar | April 1, 2026
12:00 p.m. – 1:00 p.m. ET
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As companies remain private longer, the importance of the private secondary market continues to grow. Well over $60 billion in transactions are being effected through various platforms, and this does not account for other secondary transaction volume.
During this session, representatives…
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee convened virtually on February 24, 2026, marking its first meeting of the year following the government shutdown that disrupted its schedule. The Committee’s agenda included a discussion of finders, a discussion of private secondary markets, and an update from the SEC’s Office of the…
The Securities and Exchange Commission’s Division of Investment Management will host a “Private Markets Roundtable” on March 4, 2026, from 1:00 to 3:00 p.m. ET. The roundtable will continue the dialogue regarding retail access to private markets. As we have previously blogged, the President’s Executive Order regarding 401(k) assets requires SEC action. In addition…
The Securities and Exchange Commission recently announced that its Small Business Capital Formation Advisory Committee will host a public meeting on February 24, 2026. The meeting will focus on potential regulatory improvements relating to “finders” who help companies raise capital in private transactions from accredited investors. The Committee first began to consider possible guidance relating…
On September 22, 2025, the Securities and Exchange Commission’s (the “Commission” or “SEC”) Office of the Advocate for Small Business Capital Formation (“OASB”) published its report summarizing policy recommendations made during the 44th Annual Small Business Forum (the “Forum”). The Forum brought members of the public and private sectors together to provide feedback relating to…
Nasdaq Private Market’s State of the Private Market: 2025 report shows private company valuations beginning to recover, liquidity programs surging, and private company performance stabilizing relative to public benchmarks following two years of turbulence.
In 2024, total proceeds raised through secondary tender offers surpassed venture-backed IPO volume. Over that same period, the number of private…
On July 21, 2025, the House of Representatives (the “House”) passed five bills relating to capital formation, in particular affecting small entities and emerging growth companies (“EGCs”). As discussed in a previous post, these bills were reported to the House by the House Committee on Financial Services. Each bill was passed by unanimous voice…
