Growth Secondary Directs
We are a secondary directs growth investor …
Liquid Partners acquires minority stakes in growth companies from early investors and other shareholders and provides additional growth financing.
We focus on opportunities that occur outside of the predominant investment schemes of other secondary investors or primary investors.
We are able to cover large deals with partners yet have a low minimum ticket size and are open for single-digit to low double-digit shareholdings.
… investing in internationally scalable digital businesses.
We look for
- Proven and strongly growing businesses
- Trustworthy and experienced management with entrepreneurial mindset and the ability to scale a company
We invest in asset light businesses that address an international market. We pay a lot of attention to captable, forward capital needs, involved investors and realistic exit horizon.
Our investment approach is based on …
- Independent judgement
- High flexibility & solution orientation
- Long-term experience & knowhow
- Personal trust & reliability
- Patience & persistence
We are experienced investors, entrepreneurs at heart …
Dr. Thomas Döring
… with a solid track record and significant own skin in the game.
years in industry
cash mutliple respectivly TVPI on invested capital
economic downturns navigated
“Lars has known our company for a long time and proved good timing when the fund of Lars and his partners took a small share in the company via a combination of primary/secondary a couple of years ago. As Chairman of the Board Lars helped us a lot since and so their fund was well positioned and very welcome by management and investors Lightrock, Creandum and Northzone alike to participate significantly in our growth round”
“Lars was the first investor to recognize the huge potential of komoot and to share our vision of making komoot the leading outdoor platform worldwide. Liquid Partners’ approach and philosophy very well qualified them to participate in the competitive secondary we executed at the end of 2020.”
Ralf von Grafenstein
“Some early investors needed a small and pragmatic secondary and Liquid Partners was there at the right time with the right offer. Besides the reliability and professionalism of the team we very much appreciate that Liquid Partners is able to provide further liquidity to founders and early investors and to support our strong international growth with primary capital if needed.”
“Liquid Partners bought some of my Sauce Labs shares. I hold these since I sold TestObject to Sauce Labs in 2016.
I’m convinced that allowing founders and early employees to gain some early liquidity before a majority exit is vital to motivate us for the long run.”
“Lars Michalak has known our company for a long time and we trust his experience and professionalism. This is why management, board and shareholders let Liquid Partners participate in a secondary which apart from the tranche for Liquid Partners was absorbed by existing shareholders.”
LP Capital Management GmbH