Access private technology leaders, before their liquidity event.
Independent investment boutique specialised in late-stage secondaries. Access to leading technology companies, reserved for a select circle of investors.
An independent boutique dedicated to late-stage secondaries.
We operate on private technology companies approaching a liquidity event. Each transaction is presented deal by deal, with clear information on the company, the structure and the exit horizon.
Why late-stage attracts the most selective investors.
Companies staying private for longer.
Major technology companies are delaying their listing. Valuation grows outside public markets: direct access before the IPO becomes a structural advantage for informed investors.
Early shareholders seeking liquidity.
Early employees, seed funds and business angels look for a partial exit before the IPO. These sales create a window for access on directly negotiated terms, without intermediaries.
A position between private and public value.
Late-stage allows entry after technology risk has been resolved, and before public markets fully value the company. That differential is what we seek to capture.
Value is now created before listing.
Historically, most value creation happened on public markets. Today it is captured during the private phase. Avenor operates precisely in that late-stage window, just before liquidity.
Five steps, from origination to liquidity.
Source the positions
Identification of secondary positions from existing shareholders through a direct proprietary network, without intermediary platforms.
Filter with rigour
Analysis of fundamentals, cap table, associated rights and visibility on the liquidity event. Only the most solid opportunities are retained.
Frame each transaction
Formation of a dedicated vehicle (SPV), definition of terms, legal and tax treatment, complete documentation provided to qualified investors.
Invest alongside you
The partners co-invest in every transaction on the same terms.
Support through to exit
Regular reporting on the underlying company, management of liquidity events, organisation of exit windows according to secondary market conditions.
Three non-negotiable principles.
Proprietary origination
No platforms, no chains of brokers. A direct network, built transaction by transaction, with shareholders who choose to work with us.
Genuine alignment
We co-invest in every transaction, on the same terms as you. Our compensation is tied to your performance. If a deal is not good enough for our own capital, it is not presented to you.
Restrained structuring
Complete memorandum, dedicated vehicle, monitoring through to exit. No blind pool. Full visibility on every position.
An entire organisation serving a single conviction.
The type of companies we target.
Artificial intelligence
Foundation models, infrastructure and integration platforms at global scale.
Global fintech
Growth leaders, profitable or approaching profitability, close to listing.
Infrastructure & cybersecurity
Critical companies whose value grows with systemic dependence on digital infrastructure.
Global platforms & networks
Proven network effects, established barriers to entry, dominant market position.
Three ways to invest in tech.
Early-Stage VC
Public Equities
Late-Stage Secondary
A strategy already proven.
Illustrative data, provided for information purposes only. Past performance is not indicative of future performance.
Two partners. Committed capital.
Tarik Remila
Tarik has spent several years at the heart of the private equity ecosystem, across both early stage and late stage. Convinced these two horizons reinforce each other rather than compete, he treats direct access to the best technology opportunities as a single investment practice, from first round through to the liquidity event. The companies funded yesterday often become tomorrow's late-stage opportunities. Investor in over 30 companies and funds across Europe and the US (Sorare, Kiln, Flex, Soma Capital, and others).
Sarah Bougrab
A business law and tax attorney, Sarah has spent nearly ten years advising entrepreneurs and investors on their strategic operations. Her interest in investing grew out of her work with the clients she advised. After investing in cryptocurrencies and then early stage startups, she naturally turned to late stage, drawn by the quality, maturity, and potential of these companies. At Avenor Partners, she brings her legal, strategic, and entrepreneurial perspective to a rigorous approach to investment.
Access reserved for a qualified circle.
Every opportunity we structure is shared with a restricted circle of previously qualified investors. Documentation is provided after the profile has been validated. Confidentiality on each transaction is a non-negotiable condition of how we operate.
Access the deal room.
Reserved for qualified investors wishing to review our opportunities, our documentation and our execution framework in a confidential environment.