FAQ

  • ALL
  • Secondary
  • Fund of funds
  • Co-invest

WHAT IS A SECONDARY FUND?

A secondary fund, in our market, is generally structured as a limited partnership which buys investments in venture capital or private equity funds and/or direct holdings in private companies that were usually made on a primary basis by the selling party. Most often, the fund generates proceeds for its investors as the underlying companies are sold or complete initial public offerings. Secondary funds are intended to provide both relatively high returns as well as significant diversification.

01

WHAT IS A SECONDARY TRANSACTION?

A secondary transaction, in our market, is the sale of venture capital or private equity investments, either limited partnership interests in funds or direct holdings in private companies, to a third party such as Vintage’s secondary funds.

02

WHY DO INVESTORS SELL THEIR HOLDINGS?

Investors sell for any number of reasons including a change in investment strategy, new investment opportunities, as well as a need for liquidity, which is limited in the private equity and private technology company markets.

03

WHY SHOULD I SELL TO VINTAGE'S SECONDARY FUND?

Vintage’s secondary fund has several advantages over other secondary funds in buying holdings of venture capital and private equity funds and private technology companies (whether on a portfolio or a single company basis):

  • Extensive existing holdings in venture funds and private technology companies
  • A deep and up-to-date database of venture capital and private equity funds and private companies in Israel, Europe and the US
  • A team comprised of experienced technology investors
  • Long standing relationships with Israeli, European and U.S. venture funds and Israeli private equity funds

These assets allow Vintage’s secondary fund to complete secondary transactions more quickly, more efficiently and with a greater degree of certainty of closing than other secondary funds.

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HOW CAN I EXPLORE SELLING HOLDINGS TO VINTAGE'S SECONDARY FUND?

If you are interested in exploring liquidity options for your holdings, please contact:

Alan Feld

Abe Finkelstein

Amit Frenkel

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WHAT IS A FUND OF FUNDS?

A fund of funds, in our market, is generally structured as a limited partnership and invests on a primary basis in private equity and venture capital funds.

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IN WHAT TYPE OF FUNDS DOES VINTAGE'S FUND OF FUNDS INVEST?

A fund of funds, in our market, is generally structured as a limited partnership and invests on a primary basis in private equity and venture capital funds.

07

WHAT ARE THE ADVANTAGES OF INVESTING IN A FUND OF FUNDS?

A fund of funds is one of the more prudent, risk-moderated ways to participate in private equity, venture capital, and in particular, the Israeli investment arena. Top-performing funds have outperformed other asset classes by meaningful percentages over an extended period of time. At the same time, the diversification inherent in a fund of funds model allows investors to moderate the manager-specific risks of investing capital in a very limited number of funds.

08

IN WHAT TYPES OF COMPANIES WILL VINTAGE CO-INVEST?

Vintage will co-invest in portfolio companies of funds or other institutional investors with which we have a relationship. As a general rule, in selecting companies, Vintage’s co-investments will focus on areas in which Israel has proven know-how and experience and which represent global growth market potential. Vintage will invest in companies that have achieved a substantial and consistent annual revenue run-rate. It is intended that the financing round in which Vintage participates will be the last one for the company prior to profitability or exit.

09

DOES VINTAGE REQUIRE LARGE HOLDINGS WHEN WE CO-INVEST?

No. Vintage does not require large stakes or large capital deployments when we co-invest. As such, our investment is not overly dilutive to the funds or the entrepreneurs.

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HOW DOES VINTAGE HELP ITS FUNDS AND ITS COMPANIES?

Leveraging its proprietary database of thousands of technology companies, investors and funds, Vintage has become an active advisor to both the Chief Information Officers of several Fortune 5000 companies and the senior executives of leading public technology companies. Vintage has a team focused on actively introducing portfolio companies and portfolio funds’ portfolio companies to investors, customers and strategic partners.

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