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Plaza Ventures raises annual funds, seeding one-third with internal capital
“So instead of raising a large one year, 10 year monolithic fund, we raise one or two funds every year. We seed each of the fund with about a third of our own capital.”
Plaza Ventures operates on a zero-fee, 20 percent carry model
“We don't actually charge any management fees in any of our funds. We take a 20% carried interest after a hundred percent return to capital. So, so think of us as a zero and 20 model.”
Plaza Ventures Deploys 40% to 60% of Capital on Day One
“Whereas what we're saying to our LPs is, Hey, here's where typically 40 to 60% of your capital is going on day one. So we've already diligenced these companies, and we basically raise a fund in lockstep with doing the investments.”
Plaza Ventures is the first dedicated tech secondary fund in Canada
“There's definitely, we identified about 40 groups in the U.S. That do this either as a core focus and or a sleeve on their platform, but we're first to market, believe it or not, in Canada.”
Canadian tech companies now scale to $100M+ revenue before exiting
“It used to be that you know, a company would get to five, ten million revenue and then sell. Now companies are much more bullish and are looking to go to a hundred million plus in revenue, and thus they have a lot more of an employee base that's underneath the…”
Plaza Ventures Targets 18 to 36 Month Secondary Liquidity Windows
“So we are not buying out other VC funds. We're not, the pitch is to the, to management is not, Hey, We're investing in your company and thus it could delay an IPO. It's actually quite the opposite. We're actually going down a level or two and going and buying …”
Plaza Ventures executes employee secondaries in lockstep with company CEOs
“So we're not going around the CEO. We're doing it in lockstep with them in parallel with them. And in fact, in every deal we've done thus far in every transaction we're looking at thus far, frankly, the CEO is our number one champion. And they've actually been…”
A Bloomberg Terminal for private tech shares is a massive market opportunity
“There's no dare I say, Bloomberg terminal private shares of later stage private tech companies. I'd love, I wish there was, that would certainly perhaps make my life a little bit easier. But having said that I think that would be a great opportunity.”
Plaza Ventures targets secondary shares from angel investors and early employees
“So we're actually buying shares primarily from either early angel investors and or early ex-employees in late-stage private, pre-IPO, pre-M&A, pre-private equity investment and or change of control transaction companies.”
Plaza Ventures typically writes $3M to $5M secondary checks
“So we're doing typically off-balance sheet investments, so these are secondaries.
It doesn't hit their
It, the board typically doesn't have to convene on these deals.
They're much smaller in nature.
They're typically three or four or five million dollars in n…”