Second Alpha

Second Alpha is a private equity firm providing liquidity via secondary investments in private companies. It purchases shares and convertible securities from existing shareholders, including founders, management, and institutional investors. Crafting capital solutions for early liquidity, it targets mature venture-stage firms with recurring revenues in Technology, Media, and Telecommunications.

Founded in 2012 by Richard Brekka and Jim Sanger, Second Alpha addressed lengthy private market holding periods. Their insight: shareholders needed efficient liquidity, avoiding extended waits for traditional exits. The firm pioneered value-added secondary investing, becoming a vital venture ecosystem component.

Second Alpha serves founders, management, angels, and institutional investors, enabling partial or full liquidity without forcing premature company exits. The firm acts as a supportive partner, offering capital and expertise. This allows companies to grow while stakeholders manage financial objectives.