Announcing PVC-3: The “Halftime Fund”

PayPal Mafia nerds🤓 raise third VC secondary fund

Practical VC is now raising PVC-3, the “Halftime Fund”, our third VC secondary fund. The Halftime Fund buys discounted access to mature (5-10 year old) microVC funds and companies closer to IPOs and exits, and delivers returns in half the time of traditional VC.

Our first fund PVC-1¹ has already returned >0.6X DPI in under 5 years. 

PVC-3 is a registered 506c fund and available to qualified purchasers.

Secondary investments have recently seen a strong surge of interest as the IPO market has stalled and more investors and founders need liquidity. As a result, great companies and VC funds are now available via secondary at significantly discounted prices. Read more about our “Skip the J-Curve strategy” for buying VC secondary, and check out our Secondary 101 presentation.

Founded in 2020, Practical Venture Capital is a VC secondary firm run by Silicon Valley veterans Dave McClure and Aman Verjee. Previously, we worked at PayPal, eBay, Founders Fund, Sonos, and 500 Startups (where Dave was also the founding partner). Over the past two decades, we’ve been investors in over fifty VC funds and hundreds of tech companies including Canva, Credit Karma, Twilio, Sendgrid, Talkdesk, Paidy, Gitlab, Reddit, Stripe, and Udemy. 

Venture Capital may be impractical for many investors — our goal at PVC is to make it more practical and suck a lot less.

1. “PVC-1” refers to six affiliated special purpose vehicles totaling ~$20M that were raised and managed by Practical VC, LLC and deployed between March 2020 and June 2021 (during that Zombie Apocalypse, remember?) ↩︎