The VC secondaries market is evolving rapidly, with a recent update to the “Guide to VC Secondaries Buyers” adding six new firms, increasing the total to 26 with over $67.5 billion in capital. Liquidity remains a concern for LPs and GPs, despite a slight rise in M&A activity earlier this year. Recent data indicates a decline in venture-backed M&A deals in Q3 2024. New firms like Flywheel Capital, KHC Partners, and Nodem Capital are emerging, offering innovative liquidity solutions. Industry experts suggest that all VC firms will increasingly engage in the secondaries market for better portfolio management.