Private secondary volume up 12% in February

Institutional block trading in late-stage private names continued to grow in February, with Syndikos matching $340M in notional across 28 companies. The platform saw increased activity from family offices and crossover funds seeking exposure to pre-IPO names.

Key drivers included several large tender offers and secondary transactions in AI and space-related companies. Liquidity scores improved across the board, with bid-ask spreads tightening in the most active names.