Inside the Revival of Venture Capital Liquidity with an Industry Pioneer – Goldman Sachs Exchanges

Inside the Revival of Venture Capital Liquidity with an Industry Pioneer – Goldman Sachs Exchanges — Transcript

Market views

Bullish

VC— Venture secondary market is structurally growing and can become larger than the primary market ($170B currently vs $300-500B primary historically). Secondary-to-secondary transactions are now happening, creating a multiplier effect that doesn't exist in primary markets.
AIMODELS— AI is creating a platform shift with innovation across all sectors. The convergence of digital AI and physical AI markets represents a major opportunity, with AI-enabled hardware becoming part of daily life.
HC— Healthcare is undergoing transformation driven by AI and new technologies, creating investment opportunities in the sector.
TECH— Pre-AI companies that successfully rebuild their tech stack to be AI-first are seeing dramatic acceleration and hyper growth by cross-selling new AI technologies to their existing customer base.

Bearish

TECH— Older pre-AI companies that haven't rebuilt their tech stack are seeing deceleration as budgets shift away from their products and AI coding technologies replace what they built. These companies face structural decline and will likely have lower growth buyout exits.

Not investment advice.