In this episode, Karthik Reddy (Co-founder & Managing Partner, Blume Ventures) explains how secondary activity correlates with a company’s path to profitability or IPO. He outlines how secondary buyers think about timelines, liquidity windows, and risk in the Indian market.
In this episode:
Why most secondary interest peaks 1–3 years before IPO
The difference between “continuity pressure” and “early liquidity pressure”
Real-world examples: Peak XV, Chiratae, Z47, Tiger Global
How large secondaries are often a vote of confidence in IPO readiness
Why portfolio-level secondaries are becoming more targeted and selective
Karthik also discusses how Blume views secondaries across different fund vintages — and how pressures vary depending on a fund’s lifecycle.