G Squared has closed G Squared VII with $2.3 billion in capital commitments, making the seventh flagship vehicle the largest fund in the venture capital firm’s history.
The fund will invest across direct secondary transactions, company-led tender offers, customized structured investments, and select primary financings involving growth-stage technology companies.
Founded in 2011, G Squared built its strategy around the increasingly long period between startups’ early financing rounds and eventual IPOs or other exits.
That period has created demand for secondary liquidity from employees, founders, and existing investors while allowing companies to remain private longer and potentially build substantial value before reaching public markets.
G Squared said global private secondary transaction volume reached $240 billion in 2025, up 48% from the previous year.
Company-led tender offers have also become more common as large private companies look for ways to give employees and shareholders liquidity without requiring an IPO or outright sale.
G Squared VII gives the firm substantially more capital to support those transactions while continuing to make concentrated investments in technology businesses that have already reached meaningful scale.
The firm combines company relationships, fundamental research, transaction structuring, and private-market infrastructure to invest directly in companies and provide liquidity to existing shareholders.
Earlier this year, G Squared also formed a strategic alliance with Nasdaq Private Market that combines G Squared’s secondary capital with NPM’s transaction infrastructure to support company-led liquidity programs.
KEY QUOTES:
“The private-company lifecycle has been fundamentally rewritten. Companies now create extraordinary value, build global businesses, and support increasingly complex shareholder bases long before they enter the public markets.”
“G Squared VII gives us the capacity to continue serving as a long-term capital partner to exceptional companies while providing the disciplined liquidity that keeps founders, employees, and investors aligned through the next stage of growth.”
Larry Aschebrook, Founder and Managing Partner of G Squared
“The opportunity set has never been broader or more compelling. Some of the most consequential companies of this generation are reaching extraordinary scale before the public markets ever see them.”
Spencer McLeod, Partner and Head of Research at G Squared
