A research-driven brokerage for negotiated secondaries in category-defining private tech.

We run a small number of relationship-led deals where the company is strong, the seller is credible, and the price makes sense. We research and select the companies we cover, then secure allocations before they reach the broader market.

LowAmong the lowest in the market
0–2%On the buyer side
On demandAllocation sourcing
Two Products

One firm. Two ways in.

01 / Brokerage

Relationship-led. Research-first.

Direct secondaries with fees among the lowest in the market0–2% on the buyer side. Don't see the company you want? We source allocations on demand: tell us the name and the size, and we work our seller network to secure it.

I.

We vet both sides

Before we show an offering, we verify the seller and the shares. Before we introduce a buyer to a seller, we verify the buyer — so no one's time is wasted on either side.

II.

Relationships with upside

Late-stage companies sourced at real discounts to the last round. Great businesses on sensible entry terms.

III.

Transparency of shares

Most of our deals are direct shares on the cap table. When we use an SPV, it's single-layer, backed by a US GP, with clear line of sight to the underlying stock.

Name your target.

Don't see the company you want in our book? We source allocations on demand.

CalendlyBook a Call
02 / Deal Flow

Current deal flow.

Live book — rotating weekly
████████AI Infrastructure ██████Defense Tech █████████Space ███████Semiconductors ██████Fintech + more

Names unlock with access. Pricing, fees, memos, and allocation details shared on request.

Unlock Full Book
03 / Frens Syndicate

Frens Syndicate.

800+ founders, operators, and family offices investing side by side in pre-IPO tech since 2023.

No fund, no lock-ups, no blind pools — see each curated deal, pick your own. Cheques from US$10k, and we're in every deal alongside you.

800+Members
~70%Seasoned founders
$10–200k+Typical cheques
  • Curated deal flow — hand-picked opportunities, shared deal-by-deal
  • Full memos, pricing, and allocation terms shared inside the syndicate
  • Member events, referral rewards, and a high-signal network
Request to Join Explore Frens Syndicate
FreeMembership

Application + vibe-check. No dues, no minimum activity.

10%One-time entry fee

Per deal, on participation only.

0%Carry

No carried interest. Ever.

US-regSPVs

Single-layer structures on trusted platforms.

04 / Contact

Talk to us.

Russell Abdullin

Founder — Lisbon

Founder of Seconda Private Markets & Liquidity.Land. Founder of TruePNL (acquired). Building investor communities and tech products since 2017.

Lewis Grafton

Co-Founder — Sydney

10 years in finance across investment banking, VC, and private equity (ex-Bain Capital). Founder and operator since 2021.