Pre-IPO Secondaries · Amsterdam
Equity Blends sources and executes secondary transactions in late-stage US technology companies, connecting family offices and professional investors with vetted blocks from employees and early shareholders.
Focus
We work in one part of the market and know it well: secondary shares in late-stage, venture-backed US companies, with a focus on artificial intelligence, defence technology and enterprise software.
Family offices and professional investors seeking allocations in leading private companies, with a clear view of structure, price and fees before committing.
Employees, founders and early investors seeking discreet liquidity, handled within the company's transfer rules and right of first refusal.
Direct share transfers and single-layer SPV interests.
Process
Every deal follows the same sequence. Information is released only as commitment is demonstrated, which protects buyers, sellers and the company.
We confirm your mandate, investor status and areas of interest. A mutual NDA is signed before any company-specific information is shared.
Buyers provide proof of funds before receiving data-room access. This keeps every process serious and every seller's information protected.
Access to the data room: share class, cap table position, pricing context, seller ownership verification and full structure disclosure.
Purchase agreement executed, then submitted to the company for transfer approval and its right of first refusal period.
Transparency
We state it upfront for every opportunity. Where an SPV is used, we disclose the manager, the number of layers between you and the shares, and all fees at each layer. We do not offer multi-layered structures where the chain to the underlying shares cannot be verified.
Ownership is verified against company records and share certificates or a cap-table extract before a transaction proceeds. The company's own transfer approval is a condition of settlement.
Our fee is agreed in writing before diligence begins and shown in the transaction documents. If any other party takes a fee on the transaction, you will know.
Most private companies hold a right of first refusal on share transfers. We build the ROFR period into the timeline from the start. If the company exercises it, the transaction does not proceed.
Judgement
Access matters only if it comes with discipline. Some of the opportunities we've recently passed on, and why:
An SPV three structures deep, with a fee at every level and no verifiable path to the underlying shares.
A block in a company that prohibits secondary transfers, offered via a forward contract the buyer couldn't enforce.
An asking price well above the last round, with no information rights or recent financials to support it.
Founder & Principal
Kristina founded Equity Blends to bring rigour and transparency to a market too often run on group chats and chains of intermediaries.
She focuses on secondary blocks in late-stage US artificial intelligence and defence technology companies, working with family offices in the United States.
Contact
Opportunities are shared only with verified professional investors, after an introductory call and NDA. Tell us about your mandate.