NewView recently partnered with Carta to make tender offers easier for startups to arrange. The partnership brings together NewView's secondary deal-structuring expertise and Carta's equity platform. NewView founder and managing partner Ravi Viswanathan presents the collaboration as a way for startups to introduce and administer liquidity programs more easily. Viswanathan hopes the partnership will encourage CEOs and companies to consider tender offers, benefiting employees, companies and investors.
Startups are remaining private longer, limiting opportunities for employees to sell stock received as compensation. More late-stage startups are offering tender offers in response. Tender offers let employees, and often early investors, sell some shares to an approved investor at a price fixed in advance.
A recent NewView Capital and Carta study projects a threefold increase in tender offers over the past three years among Series C and later-stage startups. Viswanathan said tender offers are no longer limited to the highest-valued private companies, such as OpenAI, Databricks and Anduril. Last year, NewView led a tender offer valuing marketing customization startup HighTouch at $1.3 billion, when HighTouch was seven years old. NewView specializes in secondary transactions alongside conventional venture investments.
However, Carta and NewView found that the proportion of startups conducting tender offers remains small, with only 44 completed during the first half of 2026. Viswanathan wants more startups to consider tender offers, describing the transactions as effective ways to retain employees and improve morale. Viswanathan said unicorn status attracted talent a decade ago, but the proliferation of billion-dollar companies may have reduced that appeal. Viswanathan said a tender offer gives companies an opportunity to promise employees liquidity during employment.
Recent tender offers include transactions at AI customer support startup Decagon, self-driving technology developer Wayve and AI voice generator ElevenLabs. ElevenLabs completed two tender offers within less than a year. Viswanathan said companies remain private for 12 to 15 years and that this duration is not changing. Viswanathan argued that employee liquidity is necessary during that period to prevent talent from leaving high-quality venture-backed companies for public companies.
Carta and NewView Partner to Simplify Tender Offers for Startups
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Summary
Carta and NewView announced a partnership to simplify tender offers for startups, merging NewView’s secondary market experience with Carta’s equity platform. The move supports liquidity programs for employees and companies. A joint study shows tender offers tripled among Series C and later-stage startups in three years, with 44 completed in H1 2026. Ravi Viswanathan of NewView stressed liquidity’s role in talent retention as startups stay private longer. This AI + crypto news update highlights ongoing innovation in financial tools for the crypto news sector.
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