M12, Microsoft's venture firm, is offloading some of its portfolio on secondary exchanges, sources say.
The fund's shares in startups are taking haircuts of between 30% and 70%, three people said.
Microsoft's corporate venture capital fund, M12, has been offloading some of its $1 billion portfolio on secondary exchanges, five people familiar with the matter told Insider.
One of the people familiar with the sales said M12 sold one large position this month at a 50% discount.
A secondary sales boomSecondary sales are becoming more common in the market in general.
Persons:
there's, PitchBook, Ashley Stewart, Ben Bergman, bbergman, Darius Rafieyan
Organizations:
Microsoft, Vertical Aerospace, Google, Investors, Tiger Global