Frequently Asked Questions

The MVP All-Star Funds are committed-capital funds that give investors diversified exposure to mid-to-late-stage technology companies backed by top-tier venture firms. We call our approach "land and expand." We land positions in high-conviction companies early, often through primary rounds, and we expand those positions as the companies mature, frequently by buying additional shares in the secondary market. The funds invest through both primary and secondary purchases and are built for a shorter path to liquidity than a traditional venture fund: we aim to distribute shares soon after an IPO and cash after a sale.

An All-Star Fund is a diversified fund. Investors commit capital once, and MVP builds a portfolio across many companies, stages and sectors. A single-company co-investment, offered through the MVP Opportunity Funds, gives exposure to one company on a deal-by-deal basis. Each co-investment is held in a separate series of a Series LLC, so its assets and liabilities are kept apart from the others. Co-investments usually have smaller minimums and are offered first to All-Star Fund investors, then to MVP's broader investor network. Since inception, MVP has offered investors more than $1.7 billion in co-investment opportunities. Co-investment opportunities are offered at MVP's discretion and are not guaranteed.

Most of our deal flow comes from relationships built over more than a decade of providing liquidity to founders, executives, employees and fund managers. As those people start new companies and funds, they bring opportunities back to us. Our platform adds visibility: our advisory work, our broker-dealer and our research team each show us who is buying and selling in the private markets. Once we are an investor in a company, our relationship with its management team helps us find additional shares through company-approved channels, rather than through unauthorized marketplaces.

Since 2014, MVP has invested in more than 80 portfolio companies, and 38 of them have had a liquidity event such as an IPO, acquisition or $1B+ exit. Our earliest All-Star portfolios (2017 and 2018 vintages) are substantially liquidated, with an average of 4.8 years from first capital call to final distribution. By comparison, PitchBook puts the average venture fund lifespan at about 13 years. Qualified investors can request detailed fund-level performance information from our team. Past performance is not indicative of future results.

MVP's investment vehicles are private offerings available only to investors who meet specific regulatory standards. Depending on the vehicle, investors must qualify as accredited investors (SEC Regulation D), qualified clients (Rule 205-3 under the Investment Advisers Act) or qualified purchasers (Section 2(a)(51) of the Investment Company Act). Minimum investments vary by vehicle. To see which opportunities may fit, reach out via our contact page.

MVP focuses on venture-backed technology companies. Current areas of focus include artificial intelligence and AI infrastructure, enterprise software, fintech, defense and space technology, energy and power, and robotics and autonomy. Past and present portfolio companies include Anthropic, SpaceX, Revolut, Saronic, Airbnb, Coinbase and Palantir. View our portfolio.

A traditional venture fund usually invests in primary rounds and holds until an exit, which often means a fund life of more than 10 years. Crossover and growth funds usually write large primary checks in late-stage rounds ahead of an IPO. MVP invests through both primary and secondary transactions, at the stage, structure and size each opportunity calls for. Because we work in the secondary market every day, we can add to positions in companies we already know well, and we can create liquidity for our investors without depending on an IPO. We also work on the company's side of the table, which gives us access that purely transactional buyers often do not have.

Often, yes. Employees, former employees, founders and early investors can sometimes sell part of their holdings before an IPO or acquisition. Whether you can depends on your company's transfer restrictions and your shareholder agreements. MVP can help you understand your options and, if a sale is possible, structure it through our wholly owned broker-dealer, VNTR Securities, LLC. In some cases an MVP fund may buy the shares directly. We look at each opportunity and decide which route fits the transaction.

In most cases, yes. Most private companies restrict share transfers and require company or board approval. Many also hold a right of first refusal (ROFR), which lets the company or its existing investors buy the shares at the agreed price before an outside buyer can. MVP manages the approval and ROFR process with the company as part of the transaction.

Many employees need to exercise their options before they can sell, especially after leaving a company, when incentive stock options often must be exercised within a short window, commonly 90 days. Exercising can require significant cash and may create a tax bill. MVP can talk through your situation and whether a sale of shares could be part of your plan, subject to company approval. MVP does not provide tax advice, so please consult your own tax advisor before exercising.

MVP works with shareholders of venture-backed technology companies, including current and former employees, founders, angel investors and venture funds. Whether we can help depends on the company, the size of the position and the company's transfer rules.

If the company does not approve the transfer, the sale cannot go forward, and MVP will not try to work around that decision. Approval may become possible later, for example through a company-sponsored tender offer or liquidity program. We can stay in touch and let you know if an opportunity opens up.

Timing varies by company. Once a buyer and price are agreed, most of the time goes to the company's approval and ROFR process and closing documents. Many transactions close within about 30 to 60 days of signing.

Yes. MVP treats the information you share about your holdings, your company and your plans as confidential and uses it to evaluate and complete your transaction, in line with our Privacy Policy and our regulatory obligations. Some details must be shared with your company as part of the approval process.

Costs depend on how the transaction is structured. When VNTR Securities acts as your broker, it is typically paid a commission on the completed sale. When an MVP fund buys your shares directly, the terms are reflected in the purchase price. All costs are disclosed to you before you commit.

Manhattan Venture Research (MVR) is MVP's private markets research group. MVR publishes analysis of private technology companies, sectors and market trends for investors and the broader venture community. MVP's investment team makes investment decisions for MVP's funds; MVR's role is to publish research.

MVR's research is prepared by our research team under policies designed to keep it objective. Because MVP and its funds may invest in companies MVR covers, reports include disclosures about MVP's interests in those companies.

No. MVR research is available free on our website at mvp.vc/research. MVR reports are also distributed to Bloomberg Terminal users.

• Industry Sector Reports: in-depth looks at a sector or theme, such as AI infrastructure, power and defense technology.
• Initiation Reports: deep dives into individual private companies.
• Quick Takes: short pieces on emerging themes and the companies leading them.
• Venture Bytes: our newsletter on private markets, venture trends and notable companies.

Venture Bytes is published about once a month. Quick Takes come out several times a quarter, and Industry Sector and Initiation Reports are published throughout the year.

Enter your email in the Venture Bytes sign-up at the bottom of any page on mvp.vc. You'll join a community of more than 15,000 investors.

No. MVR covers a wide range of private companies, including many in which MVP has no position. MVP or its funds may hold positions in some covered companies, and this is disclosed in the relevant reports. MVR research is not a recommendation to buy or sell any security.