Software ate the world,
but skipped private capital

We invest in AI-native infrastructure to power the next generation of private markets

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$12T Problem, AI Solution

Private markets run on outdated infrastructure. We're changing that.

$59T

Market Size by 2033

Private markets are expanding 3x faster than public markets with alpha-generating returns driving 50%+ of revenue despite 21% AUM.

8

Years Head Start

We've been systematically investing in private market infrastructure since 2016, before AI made it inevitable.

3

Layers of Innovation

From data infrastructure to AI models to autonomous agents - we invest across the full stack of private market technology.

Portfolio

Category-defining companies building the future of private markets

Republic
Private Markets
Forge
Secondary Markets
AngelList
Venture Infrastructure
Bolt
Checkout
CoinList
Token Sales
Clearbit
Data
Postmates
Delivery
Velvet
AI for Private Markets
View All Companies

Team

Industry veterans with proven track records building category-defining companies

Sophie Liao

Sophie Liao

Founding & Managing Partner

3x fund manager with 2.97x DPI and 11 unicorns. Top-ranked female-led emerging fund by US institutional LPs. Co-founded and sold a VFX startup in 6 months. Built 2 international JVs and launched 3 cross-border TMT funds.

Kendrick Nguyen

Kendrick Nguyen

Chairman

Founder of Republic. CEO of CoinList. Former General Counsel of AngelList. Pioneer in democratizing access to private markets.

Chris Nguyen

Operations

Sequoia, Valia Ventures

Ludolf von Schöning

VP, Europe

Nomura, Laser Digital

Noah Thorpe

Venture Partner

Blockchain Infrastructure

For Founders

We've been building the future of private markets since 2016. Join us in creating the AI-native infrastructure that will power the next $12 trillion.

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