Luis Valdich, a CVC veteran of fintech investing, has formed VIM Investors, a firm focusing on secondary market transactions.
Luis Valdich, former managing director of Citi Ventures, the corporate venturing arm of the US bank, has formed a firm to invest in startups sold on the secondary market.
VIM Investors targets secondary investments in startups that have scaled to generate more than $100m in revenue and venture-backed startups in fintech that have reached a break even point in profitability.
Liquidity in the secondary market for trading VC investments has soared in the past year-and-a-half as a dearth of exits in the IPO market has led investors to turn to secondary market transactions to offload individual stakes in startups and portfolios of investments.
The firm will also make direct investments in fintech startups.
Valdich was a managing director at Citi Ventures for more than nine years. Before that, he was a managing director and global head of strategic investments at JP Morgan Chase.
