After a two-year lull, the Canadian secondary market is seeing renewed activity as shareholders strike more deals to sell their stakes in private companies. The recovery is highlighted by Burnaby-based Clio’s recent US$900-million Series F, primarily composed of secondary shares. The global market is also on track for a record year, with US$68 billion in deals in the first half of 2024.
Investors, pressured to return capital amid sluggish exits, are turning to secondary sales for liquidity. This trend is reshaping the Canadian market, with stigma around early exits diminishing. Experts predict continued opportunity for secondary transactions through year-end.
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