SecondQuarter

SecondQuarter is an Australian venture capital and private equity firm based in Sydney, established in 2019 by co-founders Ian Beatty and Leigh Jasper. The firm specialises as a dedicated venture secondaries investor, addressing a significant liquidity gap within the Australian and New Zealand (ANZ) venture capital ecosystem. They primarily provide liquidity to founders, early employees, angel investors, and venture capital funds who seek to monetise their stakes in fast-growing, venture-backed private companies.

SecondQuarter commenced operations by investing personal capital before transitioning to a formal funds management model, driven by growing demand for their specialised services. Their core thesis identifies that prolonged exit timelines for high-growth technology companies create an urgent need for secondary transactions, enabling stakeholders to realise value from their equity without waiting for a traditional initial public offering (IPO) or acquisition. This unique specialisation in secondaries makes them a crucial partner for emerging tech companies in Australia and New Zealand.

The firm has demonstrated significant growth, successfully raising Fund I, a 2020-vintage fund that closed at A$51 million, and Fund II, a 2022-vintage fund that closed at just under A$100 million. As of December 2025, SecondQuarter Ventures was actively raising its substantially larger Fund III, targeting an estimated A$4 billion in private market liquidity demand across ANZ over the next three years. Their previous two funds have reportedly delivered top-quartile performance, already returning cash to investors.

SecondQuarter's investment strategy focuses on acquiring direct stakes in technology companies and also investing in limited partner (LP) fund stakes in vehicles managed by prominent Australian VC firms. Fund III is notably structured with two separate sleeves to pursue both direct secondaries and LP fund stake investments, optimising fees for LPs, particularly Australian superannuation funds. The firm seeks to invest in companies with a valuation of at least A$75 million and annual revenue growth exceeding 30 per cent.

Led by Managing Partner Ian Beatty and Chairman & Partner Leigh Jasper, the SecondQuarter team also includes partners Andrew Sypkes, David Tarascio, and David Moss, alongside Venture Partner Sam Kroonenburg. Their approach is designed to be transparent, fast, and efficient, ensuring that founders and CEOs are informed and can continue to focus on building their businesses while secondary transactions proceed seamlessly.