Millennium Technology Value Partners is expected to hold a final close by year end on its second venture capital-focused direct secondaries fund. The firm hopes to raise between $200 million and $300 million, as the boards and employees of VC-backed companies increasingly look to secondary players for liquidity while the M&A and IPO markets remain stunted.
Millennium bolsters portfolio as it raises $300m
The Blackstone spin-out has already held a first close on its second fund to focus on direct venture capital secondaries. It recently acquired stakes in nine new companies including Facebook, Zappos and eHarmony.
