Donerail Private Markets will target large secondary trades in late-stage private companies, with a focus on AI, enterprise software, and fintech.
The London-based startup aims to address private credit's fund-level liquidity, which remains constrained by available cash and redemption terms.
The strategy is reportedly targeting $1 billion, three years after General Atlantic took a minority stake in Clipway.
Founded in 2000, Saints Capital specializes in venture secondaries with a focus on GP-led transactions.
The alternative asset manager, which has begun the process of listing in India, is reportedly targeting $131 million for the strategy.
The newly registered tender offer fund will primarily target mid- to late-stage private tech companies through primary and secondary investments.
The interval fund targets venture companies through primary and secondary investments, and currently holds stakes in Kalshi, SpaceX, Databricks, and Runway AI.
As part of its broader mandate the fund will reportedly serve as a national-level secondary vehicle, acquiring company stakes to provide strategic industries with patient capital.
The recently registered vehicle will target late-stage private technology companies through primary and secondary investments.
The Utah-based company raised $2 million in a pre-seed round led by New Stack Ventures.
