Quick context before the details.
Through Ga^3in Ventures, LPs participated in Circle with a realized 3.36x return.
Most recently, we closed a Kraken allocation at a ~26% discount to the current round, now fully allocated. Opening a Perplexity deal next week.
This is exactly the strategy we’re doubling down on in the current environment.
This note is primarily for existing LPs and partners; if you’re a founder reading this, it reflects how we think about disciplined late-stage capital and allocation strategy, not a solicitation.
Why this works right now
Public markets are open, but volatile. Late-stage private markets are still adjusting. That gap creates opportunity.
We focus on:
Category-defining companies with real revenues and institutional sponsorship
Late-stage / pre-IPO entries where downside is protected by discounts or structured access
Shorter-duration liquidity paths (12–24 months vs. 7–10 years)
In practice, this means targeting outcomes where capital isn’t waiting on perfect markets, just normalization.
What that can look like (illustrative)
No guarantees, but to frame expectations based on historical outcomes and current pricing:
A $100k allocation across 1–2 discounted pre-IPO positions
With 1.5x–2.0x outcomes on liquidity events, that’s $150k–$200k in 12–24 months
In asymmetric cases like Circle, upside can be meaningfully higher
The goal isn’t spray-and-pray venture. It’s repeatable, risk-aware compounding.
Updated access structure
Standard (Non-member)
Deal-by-deal participation
10% one-time SPV fee
$25k minimum per SPV
Allocation subject to availability
Syndicate LP Access - $1,000 / year
For active participants who want better economics and earlier access.
5% one-time SPV fee
$15k minimum per SPV
Priority allocation in oversubscribed SPVs
Early access to selected deals
Lead LP - $5,000 / year
For LPs who move early and help anchor demand.
3% one-time SPV fee
$50k minimum per SPV
Enhanced priority allocation
72h early access to all deals
Ability to signal lead / anchor interest pre-launch and coordinate sizing
Anchor LP (invite-only tier)
Reserved for long-term partners anchoring allocations at scale.
No membership fee
Typically $250k+ per deal
Top-of-book priority where allocations are constrained
Terms handled deal-by-deal
Current pipeline (high-level)
Pre-IPO / late-stage opportunities under discussion or monitoring include:
Teather, Discord, Deel, Stripe, xAI, Anthropic, Perplexity, ConsenSys, SpaceX, Ledger, Animoca Brands, Ripple, MoonPay, Anchorage Digital, Fireblocks, Copper.co, Kalshi, Mercury, Figure AI, and others.
(Availability varies by window and source.)
Next steps
If you’d like access, just reply with:
The tier you’re interested in
Your typical check size range
Any priority names you care about
I’ll follow up with the relevant application link and notes on live or upcoming windows.
Best,
Sergey
Ga^3in Ventures