Ian Leisegang, Founder and Managing Partner, 3Spoke Liquidity Partners
Industry: Venture Capital
Summary: Proven investment model provides balanced liquidity solutions for stakeholders of leading growth-stage private technology companies.
Highlights:
- 3Spoke Capital III: ~95% deployed in 20 transactions: 16 single asset and 4 portfolios, with strong performance through 2022Q2 of 62% Gross IRR (43% Net), 1.9x Gross MOIC (1.6x Net), and 1.8x TVPI, with ~65% downside protection, with ~0.3 correlation to equity markets.
- Realizations: completed & announced in numerous positions highlighted by TalkDesk, Udemy, FlyWire, Paidy, BarkBox, and Presto.
- Launching: 3Spoke Liquidity Partners, LP. Targeting USD 150M of investor commitments driven by strong investment performance, market demand and a growing pipeline.
- Investor demand for late-stage VC remains extremely strong. Over USD 220B in capital investment went to late-stage startups in the US during 2021- more than doubling from 2020.
- Liquidity needs of venture market participants are complex and rapidly growing, and exacerbated by market volatility, resulting in strong demand for 3SPOKE's creative and flexible solutions.
- Since 3SCIII inception in 2019, 3SPOKE has sourced well over USD 1 billion of investment opportunities.
- 3SPOKE to leverage existing success and capture the highly attractive and underserved venture segment of the structured secondaries market, which 3SPOKE estimates could be ~USD 2B+ annually.
- 3SPOKE’s investment strategy providing significantly discounted entry valuations, the ability to generate positive returns in a declining valuation environment and enhanced by the introduction of current yield to investors, is extremely well positioned in the current volatile equity market environment.
Seeking: Fund LP Investors