Venture Liquidity, Secondaries & How VCs Exit | Paige Soya, Nick Duafala & Andrew (Principal at Savano Capital)

How do venture capital firms actually exit their investments when startups are staying private longer than ever before? On this episode of High Stakes, hosts Paige Soya and Nick Duafala sat down with Andrew Seter, Principal at Savano Capital, to unpack venture liquidity, the growing secondary market, and how founders, employees, and investors are accessing liquidity outside of traditional IPOs and acquisitions. As private companies delay public offerings and remain private for longer periods of time, secondaries have become an increasingly important part of the venture ecosystem. But what exactly are they, who benefits from them, and why has the market grown so rapidly? In this episode, we discuss: What venture secondaries are and how they work The difference between primary and secondary transactions Why startups are staying private longer The rise of the secondary market and what is driving its growth How founders, employees, and investors access liquidity before an IPO Why secondaries are becoming a critical component of venture capital exits The future of private market liquidity Whether you're a founder, operator, investor, or simply curious about how venture capital works behind the scenes, this episode breaks down one of the fastest-growing areas of private markets in an approachable way.