#What is G Squared's New Fund About?
G Squared has achieved a significant milestone by closing the largest fund in its history. The Chicago-based venture capital firm has raised $2.3 billion for its seventh flagship fund, marking a nearly twofold increase from its predecessor. This ambitious fund aims to capitalize on the notion that leading technology companies are increasingly reluctant to pursue initial public offerings.
#What Strategies Will G Squared Use?
G Squared VII closed on August 5 and is strategically focused on growth-stage technology companies. The firm plans to engage in private secondary transactions, company-led tender offers, structured investments, and selective primary financings. This means the firm will purchase shares from late-stage startups held by existing shareholders looking for liquidity, instead of waiting for these companies to go public.
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#Why is This Fund Significant?
The $2.3 billion raise signifies a robust shift in G Squared’s strategy, especially compared to the $1.1 billion raised by G Squared VI just two years prior. Founder Larry Aschebrook has consistently built the firm around this strategy since its inception in 2011, focusing on seizing opportunities in the evolving secondhand market for shares of late-stage companies.
#How is the Secondary Market Performing?
The secondary market is currently experiencing a notable expansion, with global transaction volumes reaching $240 billion in 2025, reflecting a 48% increase year-over-year. This trend presents promising opportunities for investors.
G Squared's portfolio includes positions in some of the most valuable private companies, including leaders like Anthropic, Airbnb, and Brex. Notably, G Squared's investment in Anthropic involved acquiring approximately 4.5 million shares worth $135 million during a strategic secondary deal associated with the FTX bankruptcy estate.