Earlyasset Research
For investors, allocators, and finance professionals navigating the structures, events, and macro dynamics shaping the private market.
Looking for shareholder education on private equity and secondary transactions? See Shareholder IQ.
Topics we cover
Market Structure
SPVs, layered SPVs, fund structures, fee mechanics, and the structural choices that determine who actually controls a private share position.
Macro & Markets
How interest rates, IPO window cycles, regulatory shifts, and companies staying private longer reshape the venture secondary market.
Field Notes
Questions we get from shareholders, allocators, and operators — and the misconceptions we see most often in the field.
Industry
Reads on new platforms, fund launches, large secondary events, and notable transactions — and what they signal about where the market is going.
Latest
Macro & Markets · 17 min read
Inflation is re-accelerating, the rate-cut narrative has collapsed, and the IPO window is largely closed below mid-cap. Meanwhile SpaceX, Anthropic, Databricks, and Revolut are being repriced upward every few months at multiples reminiscent of 2021 SaaS peaks. The market has split in two — and treating it as one will get you the wrong answer.
By Earlyasset Research · April 2026
Market Structure · 10 min read
An SPV — or layered SPV — is how many investors first touch the venture secondary asset class. The pitch emphasizes access. The structure deserves more weight than it usually gets.
By Earlyasset Research · April 2026
Have a question or a topic you want us to look at?
If you're evaluating a specific structure, transaction, or market dynamic and want a second set of eyes — reach out. No commitment required.
Get in touch →contact@earlyasset.com · We typically respond within one business day