A new partnership aims to make employee liquidity programs easier for private companies to launch
As startups remain private for longer, employees who receive company shares as part of their compensation may wait years before they can sell them. Carta and NewView Capital are working together to make one route to earlier access--company-sponsored tender offers--simpler to arrange and manage.
Tender offers let employees and, in some cases, early investors sell part of their holdings at a set price to approved buyers. The collaboration combines NewView's experience structuring secondary transactions with Carta's equity-management platform. NewView founder and managing partner Ravi Viswanathan says the goal is to help companies run these programs more smoothly.
A study by NewView Capital and Carta projects that tender offers among Series C and later-stage startups will have tripled over a three-year period. Yet adoption remains limited: 44 such offers were completed in the first half of 2026. Viswanathan sees the programs as a way to support employee retention and give workers a clearer opportunity to realize some value from their equity while a company is still private.
With many startups spending 12 to 15 years in private markets, employee liquidity options may become a more prominent part of how companies attract and retain talent. Easier-to-run tender offers could help broaden access to those options as startup financing models continue to evolve.
