Key Takeaways
- • G Squared has closed its sixth flagship fund, G Squared VI, with $1.1B in committed capital, per a Business Wire announcement dated August 26, 2024.
- • The majority of G Squared VI will be allocated to secondary market opportunities, including direct secondary transactions in growth-stage technology companies.
- • The firm cites secondary transaction volumes crossing $70B in the first half of 2024, with the fund positioned to provide liquidity to founders, early investors, and employees.
- • Following the close, G Squared reports approximately $4B under management and $5B deployed across portfolio companies including Anthropic, Uber, Wiz, and Toast.
Summary
Chicago-based G Squared, a growth-stage venture capital firm, announced it has raised $1.1B in committed capital for its sixth flagship fund, G Squared VI, according to a Business Wire release. In line with the firm's long-standing strategy, the majority of the fund will be allocated to secondary market opportunities, providing growth capital and liquidity to technology companies and their stakeholders.
The firm framed the raise against a strong secondaries market, stating that secondary transaction volumes soared to unprecedented levels in the first half of 2024, crossing the $70 billion mark. G Squared, founded in 2011, argues that as companies remain private for longer, they require partners that can address their liquidity needs, and it aims to provide that liquidity to founders, early investors, and employees.
G Squared's approach relies on flexible deployment across a full suite of liquidity services, including direct secondary transactions, primaries and structured primaries, and company-sponsored tenders. The firm says it will focus on four core areas: SaaS, fintech and insurtech, mobility, and consumer internet.
Founder and Managing Partner Larry Aschebrook said the close reflects limited partner confidence in the team and its strategic vision, and that G Squared VI will support its mission of partnering with transformative companies while providing liquidity relief for the venture capital ecosystem.
With the additional capital, G Squared reports approximately $4B under management and $5B deployed to date across more than 130 portfolio companies, including Anthropic, Bolt, Coursera, Fanatics, FIGS, Tipalti, Toast, Turo, Uber, and Wiz.
The firm framed the raise against a strong secondaries market, stating that secondary transaction volumes soared to unprecedented levels in the first half of 2024, crossing the $70 billion mark. G Squared, founded in 2011, argues that as companies remain private for longer, they require partners that can address their liquidity needs, and it aims to provide that liquidity to founders, early investors, and employees.
G Squared's approach relies on flexible deployment across a full suite of liquidity services, including direct secondary transactions, primaries and structured primaries, and company-sponsored tenders. The firm says it will focus on four core areas: SaaS, fintech and insurtech, mobility, and consumer internet.
Founder and Managing Partner Larry Aschebrook said the close reflects limited partner confidence in the team and its strategic vision, and that G Squared VI will support its mission of partnering with transformative companies while providing liquidity relief for the venture capital ecosystem.
With the additional capital, G Squared reports approximately $4B under management and $5B deployed to date across more than 130 portfolio companies, including Anthropic, Bolt, Coursera, Fanatics, FIGS, Tipalti, Toast, Turo, Uber, and Wiz.
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