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Turbine raises $22M to help VC investors get cash without selling their stakes. Read more on TechCrunch
Asset-Backed Lending for VC

There's an alternative to secondaries

When you need liquidity, secondaries aren’t your only option.

Selling on the secondary market often means...

Discounts to NAV
You’re taking a haircut—often 40–60%—on assets you still believe in.
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Giving up future upside
Once sold, you’re out. No more participation in follow-on returns.

Delays and complexity
Sales processes can drag for months, with heavy legal and counterparty friction.

Accelerating taxable event
‍Secondary sales often trigger capital gains

Possibly losing QSBS treatment
Selling too early may disqualify you from Qualified Small Business Stock benefits—costing you years of potential tax exclusion.
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Spending thousands in legal fees
Between legal counsel, negotiations, and brokerage fees, you could be spending tens of thousands just to exit.
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Potentially losing your seat at the table for the next cycle
Giving up your position means giving up your influence. You risk losing your seat at the table in the next fund cycle.

Get in touch to learn more

Turbine vs Secondaries

LPs can access capital by borrowing against their fund positions—no need to sell. Use unrealized gains to make new investments, meet capital calls, or manage cash flow. Keep your upside, unlock flexibility.

Feature

Secondaries

Turbine

Asset Ownership
Sold stake
Retained ownership
Upside Participation
Forfeited at exit
100% exposure preserved
Cost Structure
40-60% NAV Discount + legal + fees
Interest + origination
Liquidity Timeline
Months
Weeks
Tax Implications
Tax Implications
Often triggers capital event
QSBS treatment
At risk
Untouched
Get in touch

You Have Unrealized Gains. 

Turbine is Standing By.

Borrow against the investments in your participating venture fund to manage liquidity, reduce your cash basis, and potentially increase returns. Leverage unrealized gains to invest in new funds with no impact on the underlying investment positions or the overall fund. And you always have the flexibility to pay off the loan out of distributions, or whenever the time is right.

step 1

Turbine partners with General Partners and Venture Funds

step 2

Limited Partners are invited to apply for loans using their position in the fund as collateral

step 3

Turbine funds loans and proceeds are used for new investments

Is your fund ready to partner with Turbine?

Reach out to explore liquidity options today.

Get Started

Turbine Finance enables venture funds to give financial flexibility to their investors. Founded by experienced VC and banking professionals, Turbine is an invite-only liquidity solutions provider that works with leading investment funds, banks, and capital partners. Contact us today to explore partnership opportunities.