Research-driven access to category-defining private tech.
Negotiated secondaries and growth-stage co-investment in a small number of relationship-led deals: strong companies, credible counterparties, prices that make sense. We select the companies we cover, then secure allocations before they reach the broader market.
Our own capital alongside institutional leads, with a close group of family offices behind one line on the cap table.
Direct secondaries, verified on both sides, sourced on demand.
We select the companies we cover, write our own memos, and verify both sides of every trade.
One firm. Three ways in.
Ventures
Co-investment alongside institutional leads. Our own capital in every round, with a close group of family offices.
Explore Ventures →Secondaries
Direct secondaries for institutions and qualified buyers. Verified sellers, allocations sourced on demand.
Explore Secondaries →Frens Syndicate
A private, deal-by-deal investment community. 800+ members, tickets from US$10k.
Explore Syndicate →Growth-stage co-investment alongside leads.
A small number of allocations a year in Series B to pre-IPO rounds, usually alongside an institutional lead. We commit our own capital first, then fill the allocation from a close group of family offices.
One line on the cap table
A single-layer SPV holds our capital and our co-investors' together. One investor, one conversation.
Supportive and additive
A small, senior team that has sat on both sides of the table. We engage where useful and stay out of the way otherwise.
Discreet
We talk to you before your deck goes to anyone.
Relationship-led. Research-first.
Direct secondaries, negotiated one-to-one. Research comes first: we select the companies we cover and write our own memos before an offering reaches you.
We vet both sides
Before we show an offering, we verify the seller and the shares. Before we introduce a buyer to a seller, we verify the buyer, so no one's time is wasted on either side.
Relationships with upside
Late-stage companies sourced at real discounts to the last round. Great businesses on sensible entry terms.
Transparency of shares
Most of our secondaries are direct shares on the cap table. When we use an SPV, it's single-layer, backed by a US GP, with clear line of sight to the underlying stock.
Current deal flow.
PsiQuantum is racing to build the first fault-tolerant quantum computer
Whoop is a leader in wearable devices, with 2.5M+ paid members
Polymarket is the world's leading venue for event markets
Names unlock with access. Pricing, fees, memos, and allocation details shared on request.
Frens Syndicate.
800+ founders, operators, and family offices investing side by side in pre-IPO tech since 2023.
There's no fund: you join the deals you like, from US$10k, and we invest our own money alongside members.
- Curated deal flow: hand-picked opportunities, shared deal-by-deal
- Full memos, pricing, and allocation terms shared inside the syndicate
- Member events, referral rewards, and a high-signal network
Application + vibe-check. No dues, no minimum activity.
Per deal, on participation only.
No carried interest.
Single-layer structures on trusted platforms.
Talk to us.
Russell Abdullin
Founder of Seconda Private Markets & Liquidity.Land. Founder of TruePNL (acquired). Building investor communities and tech products since 2017.
Lewis Grafton
10 years in finance across investment banking, VC, and private equity (ex-Bain Capital). Founder and operator since 2021.