The other side of a private transaction.
IRMIN Capital arranges secondary transfers of shares in privately held companies. We work with holders who need liquidity and with investors who want access, and we keep both sides of the conversation to ourselves.
Early-stage secondaries
Founders, early employees and seed investors hold positions that will not be liquid for years. We arrange partial sales to investors who are prepared to wait, at a price both sides can defend.
- Who sells
- Founders, early employees, angels, and seed funds reaching the end of their life
- Structure
- Direct share transfer where the company allows it, otherwise a participation held through a vehicle
- We start with
- Cap table, articles of association, and the company's written position on transfers
- Pace
- Four to ten weeks from mandate to settlement, depending on consent
Late-stage secondaries
Companies that are already well known and close to an exit. Supply is limited, pricing is contested, and most of the work is proving that a block is real, transferable and free of competing claims.
- Who sells
- Employees after an exercise window, early funds returning capital, and holders of existing vehicles
- Structure
- Direct transfer where consent is given, otherwise a forward agreement or a single asset vehicle
- Diligence
- Proof of ownership, transfer restrictions, rights of first refusal, and written company consent
- Distribution
- Shown to a named list of buyers, never broadcast
Strategic advisory
For companies and holders who are not ready to transact. We read the cap table, the articles and the transfer mechanics, and we tell you plainly what has to change before a sale is possible.
- Engagement
- A fixed fee for the review. No commission, and no obligation to run the sale with us
- Scope
- Cap table, transfer restrictions, shareholder consent, and reference points for price
- Output
- A written readiness assessment and the order in which to work through it
- Afterwards
- You can run the process yourself, with your own advisers, or with us
We do not publish transactions,counterparties or prices.
Most of what we do is visible only to the two parties it concerns. That is the point of it.
Private inquiries
Tell us which side you are on, the company, and the size of the position. Every message that contains those three things gets a reply.
inquiries@irmincapital.com