Stableton Financial approaches first close of new USD 100m secondary investments fund

The new fund is planning to invest USD 2m-USD 6m in 15-25, mostly European, high growth companies with at least USD 100m in enterprise value, Bezner said. Most transactions will be made through direct secondary investments.

It will prioritise companies at stages beyond Series B in the consumer, fintech, enterprise software, and mobility sectors, he said.

The vehicle will typically acquire equity stakes from early-stage investors seeking liquidity, including venture capital firms, angel investors and company employees, said Bezner, who also serves as Stableton's chief investment officer.

It will seek to hold the investments for up to five years ahead of an anticipated liquidity event, such as a trade sale or initial public offering (IPO), the executive said.

Zurich-based Stableton is raising funds from a mix of institutional investors, wealth managers and family offices, Bezner said.

The company is simultaneously preparing to raise a second fund, which will offer investors the opportunity to invest passively in private tech unicorns globally, the CEO said. This fund will follow the MorningStar Pitchbook Unicorn Select 20 Index, which tracks the 20 largest privately held venture capital-backed companies with post-money valuations of at least USD 1bn, according to Stableton's website. It will aim to raise at least USD 100m, he said.

Management is open to working with advisors offering placement services for its upcoming funds, Bezner said.

Stableton was founded in 2018 to provide qualified investors, including wealth managers, private banks, family offices and high net-worth individuals, with access to high-growth secondary investment opportunities in the private markets.

Its fintech platform augments its investment activities and supports the sourcing of secondary investment opportunities from significantly more than 100 deal sources, including investment banks and brokers. It further offers users the opportunity for co-investments, the executive said.

Last June, Stableton raised CHF 15m in a Series A funding round led by the VC investment arm of TX Group, with participation from C3 EOS VC Venture Fund and DEWB. The fresh capital is being used primarily to fund the growth of its fintech platform, Bezner said.

The company does not rule out a new funding round to follow its Series A next year, and is open to working with external advisors, he said. It does not disclose financials, he added.

[Editor's note: The article has been amended post-publication to clarify that the target size of Stableton Financial's new fund is USD 100m.]

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