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

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

Author: Paige Soya June 25, 2026 Duration: 35:41

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.


Behind every major innovation, there's usually a risky bet and a tense conversation that made it happen. High Stakes pulls back the curtain on those pivotal moments by focusing squarely on the world of early-stage venture capital. Instead of abstract theory, each conversation pairs a founder who has lived the grind with an investor who has backed the vision, creating a dynamic and often revealing dialogue. They tackle the specific trends and tough questions shaping the venture space right now, from evaluating a team's potential to navigating a market downturn. You'll hear the nuanced strategies, the candid mistakes, and the real-world compromises that define building and funding a company from the ground up. This podcast is built for anyone curious about the mechanics and human drama of startup investing, offering a genuine sense of how capital flows to ideas and what it truly takes to succeed. Tune in for unscripted perspectives that clarify how high-risk decisions are made and what both sides learn when the stakes are at their absolute highest.
Author: Language: en-us Episodes: 50

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