Does Frazier VC buy secondaries?
- Frazier VC
- Feb 16
- 3 min read
Not all capital goes into the company. Sometimes, it goes to the people who helped build it. That’s where secondaries come in.
So, does Frazier VC buy secondaries?
Yes — Frazier VC actively purchases secondary shares. And it’s a core part of how we invest across Utah and throughout the Mountain West.
What Is a Secondary Investment?
A secondary investment is when we purchase existing shares from current shareholders — rather than investing new capital directly into the company.
These transactions can involve:
Early investors looking for liquidity
Founders seeking partial liquidity
Employees with vested equity
Other stakeholders adjusting ownership
Unlike primary investments, where capital goes into the company, secondary purchases provide liquidity to existing holders — without diluting the business.
Why Secondaries Matter
As companies grow, especially in the Seed, Series A, and beyond stages, secondaries become an important tool.
They allow:
Early supporters to realize returns
Founders to de-risk while staying fully committed
Companies to clean up cap tables
New investors to enter strong companies without waiting for a new round
In fast-growing markets like Utah and the broader Mountain West, secondaries are becoming more common as companies scale and mature.
Frazier VC’s Approach to Secondaries
At Frazier VC, secondaries are not an afterthought — they are an active part of our strategy. We have completed hundreds of secondary transactions across Utah, near Salt Lake City, and throughout the Mountain West.
We look at secondaries as an opportunity to:
Invest in companies that have already demonstrated traction
Increase ownership in high-performing businesses
Build or deepen relationships with founders
Support long-term growth alongside management teams
Whether we are already investors or new to the cap table, we approach secondaries with the same long-term mindset.
Examples of Secondary Investments
Frazier VC has participated in secondary transactions across a number of well-known companies, including:
These companies represent the types of businesses we are excited about — scalable, technology-driven, and deeply embedded in their industries.
We Are Especially Interested in Our Existing Portfolio
If your company is already part of the Frazier VC portfolio, we are especially interested in secondary opportunities.
Why? Because we already know the business. We understand the team. We understand the metrics. We understand the long-term potential. That familiarity allows us to move quickly and confidently when opportunities arise.
If you are part of one of our portfolio companies and are exploring liquidity options, we encourage you to reach out.
We Also Invest in New Companies Through Secondaries
You don’t need to be an existing portfolio company for us to be interested. We are always open to discussing secondary investments in companies that fit our focus areas.
Generally, we are most interested in:
B2B SaaS
Enterprise software
Artificial intelligence (AI)
Fintech
Innovative technology platforms
Our main area of focus is companies based in Utah or across the Mountain West but we are always open to hearing about opportunities in other places as well. If your company is scaling and there is an opportunity for secondary liquidity, we are open to the conversation and encourage you to reach out.
Why Work with Frazier VC on Secondaries?
Secondaries require trust, discretion, and experience. Because these transactions often involve multiple stakeholders, timing considerations, and sensitive ownership dynamics, it’s important to work with a partner who understands how to navigate them.
At Frazier VC, we bring:
A long history of investing in the region
Deep relationships with founders, investors, and operators
Flexibility in structuring transactions
Quick decisions
So, Does Frazier VC Buy Secondaries?
Yes.
Frazier VC actively purchases secondary shares and has completed hundreds of secondary transactions across Utah and the Mountain West. We are especially interested in secondary opportunities within our existing portfolio, but we are also open to new companies that fit our investment focus in B2B SaaS, enterprise software, AI, fintech, and innovative technology.
If you are exploring a secondary transaction, we encourage you to reach out through our contact form. Because sometimes the next step in the journey isn’t raising new capital… It’s unlocking value along the way.
