Advance VC has signed up high-profile backers including Stake founder Matt Leibowitz and Decjuba owner Tania Austin for a new fund that will buy up unwanted stakes in the investments of venture capital operators such as Blackbird and Tidal.
As start-ups stay private for longer and VC firms extend the life of their 10-year funds, Melbourne-based Advance VC has emerged as a buyer for investors who need to sell their holdings for reasons including financial distress, divorce, or wanting to rebalance their portfolios.
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