G Squared

What G Squared does

G Squared is a global venture capital fund manager founded in 2011 and headquartered in Chicago, with additional offices in San Francisco, Zurich, and Miami. The firm is structured as G Squared Equity Management LP, a Delaware limited partnership registered with the U.S. Securities and Exchange Commission as an investment adviser under the Investment Advisers Act of 1940 (CRD 289285). G Squared targets growth-stage technology companies and operates a differentiated "transitional capital" model that combines three investment capabilities: primary capital into venture-backed companies, secondary purchases from early investors and current or former employees, and the leading and structuring of employee tender programs. Across these activities the firm reports cumulative deployment of nearly $6 billion into more than 150 portfolio companies, including both realized winners (Airbnb, Lyft, Spotify, Uber) and current-cycle names (Anthropic, Brex, Lambda, Replit, Wiz).

G Squared's product set is a platform of investment services rather than a unified software product. The core offerings are Primary Investment Funds, Secondary Investment Funds, and Employee Tender Programs, delivered together as a single integrated capability. Supporting these investment services are a password-protected Investor Portal (investors.gsquared.com) for limited partners, The Square — a bi-monthly newsletter launched in November 2023 covering private-markets trends, secondary-market dynamics, and founder interviews — and a public Investments List directory of the 150+ portfolio companies. In January 2026 the firm extended this platform through a strategic alliance with Nasdaq Private Market, in which G Squared serves as the primary investor for company-driven secondary liquidity events while NPM provides execution, technology, and infrastructure.

The firm's revenue mechanics are those of a traditional private fund manager: management fees on assets under management, supplemented by carried interest on realized gains. The firm solicits only qualified clients (qualified purchasers or accredited investors) via private placement memoranda and separate investment advisory agreements; fund terms, management fee rates, and carry economics are not publicly disclosed. Portfolio coverage spans five stated verticals — Consumer Internet, Fintech/Insurtech, Mobility 2.0, SaaS, and Exited Positions — and a global geographic footprint across the U.S. and Europe. An affiliated entity, G Squared Private Wealth, appears to extend the firm's reach into high-net-worth and individual-accredited-investor distribution, while wholly owned fund vehicles G Squared Ascend I, Inc. and G Squared Ascend II, Inc. house investment activity. Leadership is concentrated among a small senior team headed by Managing Partner Larry Aschebrook, with CFO Luis Rivera, CAO Geoff Carfagnini, CLO Jeffrey Barton, and COO Thomas Hoban.

Name

G Squared

Legal name

G Squared Equity Management LP

Website

http://gsquared.com

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

1–10 employees

Short description

G Squared is a global growth-stage venture capital fund manager that invests in late-stage technology companies through primaries, secondaries, and employee tenders, with nearly $6 billion cumulatively deployed across 150+ portfolio companies from offices in Chicago, San Francisco, Zurich, and Miami.

Ownership category

akta.pro rank

Product category

Venture Capital Fund Management

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Late-Stage Venture Capital (Series C+) (FSANAAAC)

akta.pro secondary industries

GP-led Continuation Funds (Single-Asset & Multi-Asset) (FSANAFAB), Multi-Sector / Generalist Growth Equity (FSANACAO)

Keywords

• Venture capital investing
• Growth-stage investments
• Secondary market transactions
• Employee tender programs
• Private market liquidity

Headquarters

HQ city

Chicago

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. Primary venture investments: G Squared invests primary capital directly into growth-stage technology companies, generating returns through value creation in portfolio companies and exits. The firm invests in companies tackling big problems and challenging incumbents across multiple sectors.
2. Secondary market transactions: G Squared purchases shares from early investors, current and former employees, and other shareholders of private companies, providing liquidity in the secondary market. The firm leverages structural inefficiency in private markets.
3. Employee tender lead-structuring and management fees: G Squared leads and structures employee tender offers for portfolio companies, providing liquidity to employees. As a registered investment adviser, the firm also earns management fees on the private funds it manages.

Go-to-market motion2 records

Core offering

G Squared is a global venture capital fund manager that deploys primary capital into growth-stage technology companies, purchases shares in the secondary market from early investors and employees, and leads and structures company-driven employee tender offers. The firm operates as a "transitional capital provider," serving venture-backed companies that are staying private longer, and combines these three capabilities under a single fund manager to deliver access to value creation in private markets.

Product overview

G Squared is a global venture capital fund manager (founded 2011, headquartered in Chicago with offices in San Francisco, Zurich, and Miami) whose product set is a platform of investment services rather than a unified software product. The core offering consists of three interrelated investment capabilities — Primary Investment Funds, Secondary Investment Funds, and Employee Tender Programs — delivered together as a "transitional capital provider" model that serves venture-backed companies staying private longer. Supporting these investment capabilities are the Investor Portal (a password-protected LP/GP-facing account platform), The Square Newsletter (a bi-monthly content product on private-markets trends), and the publicly accessible Investments List directory of the firm's 150+ portfolio companies. In January 2026, G Squared extended this platform through a strategic alliance with Nasdaq Private Market, in which G Squared acts as primary investor for company-driven secondary liquidity events while NPM provides the execution technology and infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• The Square: A bi-monthly email newsletter produced by G Squared offering insights on technology, innovation, private secondary market trends, and the evolving VC landscape.
• G Squared Private Wealth

Products and services

• Primary Investment Funds Growth-stage primary capital investments in venture-backed technology companies. G Squared deploys primary capital to fund companies' continuing growth, partnering with portfolio companies throughout their lifecycles. The firm has invested in over 150 companies and deployed nearly $6 billion cumulatively.
• Secondary Investment Funds Transitional capital providing liquidity to early investors, current and former employees, and other shareholders of private companies. G Squared leverages structural inefficiency in private markets to offer access and exposure to growth-stage technology companies.
• Employee Tender Programs Company-driven liquidity events that G Squared leads and structures, giving employees and early stakeholders an opportunity to liquidate equity holdings while the company remains private. Combined with primary and secondary capabilities under a single fund manager.
• The Square Newsletter Bi-monthly email newsletter offering an inside look at trends shaping technology, innovation, and the private markets. Each issue highlights recent investment activity, secondary market trends, and founder perspectives alongside capital markets and VC landscape insights. Distributed via Mailchimp.
• G Squared Investor Portal Password-protected investor login portal at investors.gsquared.com, providing limited partners and accredited investors with access to fund-related information, reporting, and account management functionality.
• G Squared Investments List Publicly accessible directory of all current and past G Squared portfolio companies on the firm website, spanning over 150 names across consumer internet, fintech/insurtech, mobility, SaaS, and exited positions categories.

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature2 records

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Tiger Global Management: Tiger Global is a leading growth-stage investor that combines primary late-stage rounds with public/secondary exposure — the closest analog to G Squared's primary + secondary approach and a frequent co-investor in the same companies.
• Coatue Management: Coatue is a technology-focused investment firm that invests across primary, secondary, and public markets, closely matching G Squared's transitional capital thesis. Coatue is also a co-investor in many of the same growth-stage rounds (e.g., Replit).
• General Atlantic: General Atlantic is a global growth equity firm providing capital across primary and secondary transactions for high-growth companies, making it a directly comparable growth-stage investor to G Squared in both approach and company overlap.
• Insight Partners: Insight Partners is a large growth-stage technology investor that combines primary capital with secondary purchases and structured solutions, overlapping directly with G Squared's primary + secondary + tender offering.
• Iconiq Capital: Iconiq Capital is a private wealth and growth-stage investment platform that invests in primaries, secondaries, and co-investments for high-growth tech companies, sharing G Squared's late-stage tech focus and secondary orientation.
• DST Global: DST Global is a specialist in late-stage private tech investments via primary and secondary transactions, operating a model that is structurally similar to G Squared's and frequently cited in the same peer set.
• Lexington Partners: Lexington Partners is one of the largest dedicated secondary private equity buyers, directly comparable to G Squared's secondary investment fund capabilities and frequently counter-bid in the same secondaries transactions.
• Greenspring Associates: Greenspring Associates (now part of StepStone) is a specialist secondary investor in venture and growth equity, directly comparable to G Squared's secondary fund strategy and primary+secondary hybrid approach.
• Adams Street Partners: Adams Street Partners is a global private markets manager that invests across primaries, secondaries, and co-investments — directly overlapping with G Squared's three-pillar model and growth-stage tech focus.

Broad incumbents

• TPG Capital: TPG is a large, diversified alternative asset manager with a growth-stage arm that participates in many of the same rounds G Squared does; it is a broader incumbent with a wider mandate that still competes in late-stage tech.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/gsquaredequitymanagement
• Xx.com/gsquaredvc

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments122 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about G Squared