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§ Venture Capital · San Francisco, CA, USA
Saints Capital is a merchant venture capital firm with offices located in San Francisco and London.
Saints Capital is an investment firm dedicated to providing liquidity to investors within the private equity secondary market. The firm specializes in GP-led venture secondary transactions, actively acquiring portfolios of venture capital and private equity interests to offer flexible capital solutions. Its established methodology addresses complex exit needs and portfolio management challenges in illiquid private assets.
The firm was founded in 2000 by David Quinlivan and Kenneth Sawyer. Their initial insight stemmed from recognizing the increasing demand for structured liquidity options in burgeoning private markets, positioning Saints Capital as a pioneer in developing sophisticated secondary transaction models. This foundational approach allowed for innovation in capital deployment and investor solutions.
Saints Capital primarily serves a diverse client base including institutional investors, corporations, and high-net-worth individuals seeking efficient avenues for private asset management. The firm's enduring vision is to consistently unlock value and provide tailored liquidity pathways across the evolving private investment landscape, anticipating future market needs and opportunities.
Key people at Saints Capital.
Saints Capital has more than 26 tracked investments across 23 companies. The latest tracked deal is $3.0M Seed in Smashing in June 2024.
Key people at Saints Capital.
Saints Capital is a pioneering investment firm specializing in the venture and private equity secondary market, with a unique focus on GP-led transactions. Founded in 2000, Saints has built a reputation for providing tailored liquidity solutions to general partners (GPs), limited partners (LPs), founders, early employees, and institutional investors in private companies. The firm’s mission centers on generating above-market returns for its investors by combining deep industry expertise with a disciplined, solutions-driven approach. Saints is known for its flexible deal structures—including loans, deferred payments, and upside sharing—designed to meet the diverse needs of sellers while preserving alignment and continuity within portfolios.
Saints Capital primarily invests in technology, healthcare, consumer, and industrial sectors, with a strong emphasis on emerging growth companies globally. By accelerating the capital cycle and supporting long-term value creation, Saints plays a critical role in the venture capital ecosystem, helping funds and stakeholders unlock liquidity without disrupting portfolio companies or their growth trajectories.
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Saints Capital was founded in 2000, making it one of the earliest and most experienced players in the direct secondary market. The firm emerged at a time when liquidity options for investors in private companies were limited, and secondary transactions were largely opportunistic. Saints quickly distinguished itself by focusing exclusively on direct secondary deals, pioneering new structures that allowed GPs and LPs to access liquidity while maintaining alignment with portfolio companies.
Over the years, Saints has evolved from a boutique secondary fund into a leading global player, managing over $1 billion in assets and executing more than 35 portfolio transactions. The firm’s team comprises venture natives with decades of combined experience in venture capital, investment banking, and operating roles at high-growth startups. Their deep relationships with GPs and LPs have enabled Saints to become a trusted partner in structuring complex, bespoke liquidity solutions.
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Saints Capital is riding the wave of exponential growth in the venture secondary market, which has matured from a niche, opportunistic space into a large, institutionalized asset class. Structural challenges in the venture industry—such as extended holding periods, limited exit windows, and increasing demand for liquidity—have made secondary solutions more critical than ever. Saints’ expertise in GP-led transactions positions it at the forefront of this trend, enabling funds and investors to manage capital cycles more effectively and unlock value from mature portfolios.
By providing liquidity without disrupting portfolio companies, Saints helps sustain innovation and growth in the startup ecosystem. The firm’s ability to structure win-win scenarios for all stakeholders supports the long-term health of the venture capital industry, especially as more funds seek to optimize their portfolios and adapt to evolving market dynamics.
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Saints Capital is well-positioned to continue shaping the future of the venture secondary market. As the ecosystem matures and demand for liquidity solutions grows, Saints’ deep expertise, flexible structures, and global network will remain key advantages. The firm is likely to expand its footprint in new geographies and sectors, while further refining its analytical and operational capabilities.
Looking ahead, trends such as the rise of continuation vehicles, increased institutional participation in secondaries, and the need for more sophisticated liquidity options will drive demand for Saints’ services. The firm’s influence will likely grow as it helps more GPs and LPs navigate the complexities of portfolio management in an increasingly dynamic environment. Saints Capital’s journey—from pioneer to market leader—reflects the broader evolution of the venture capital ecosystem, and its future will be defined by its ability to innovate and adapt in a rapidly changing landscape.
