San Francisco, Calif.-based Akkadian Ventures announced the closing of a new fund focused exclusively on helping entrepreneurs achieve their liquidity goals.
Akkadian Ventures II, LP, is comprised of a core $22m direct secondary fund as well as a dedicated warehouse line and sidecar investment structure with its LPs that gives the fund capacity to potentially invest up to $80m over the next two years.
Founded in 2010, Akkadian is a direct secondary investment firm focused on providing liquidity to early employees of venture-backed businesses by acquiring small stakes in growing companies. It is comprised of over 70 private investors and entrepreneurs, including Mark Britto, CEO of Boku; Ed Ojdana, founder of FreeCreditReport.com; Russ Fradin, founder of Adify and CEO of Dynamic Signal; and Rob Bailey, CEO of Datasift.
It is led by Ben Black, who co-founded the fund with securities law expert Peter Smith, technology executive Chris Tarr and angel investor Raymond Tonsing.