Startup Secondaries: Demystifying Liquidity for Founders & Teams

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Date: Thursday, 7 August 2025
Time: 12pm to 1pm AEST
Location: ONLINE

Secondary sales are one of the most debated topics in the startup ecosystem. While some investors are concerned that founders and team members may lack commitment and motivation when selling down shares, others recognise them as a crucial tool for founder wellbeing and team retention in today's extended funding cycles. This webinar cuts through the controversy to explore how secondary sales can be strategically implemented to benefit all stakeholders.

Join us for an exclusive webinar where we’ll explore:

• The mechanics of secondary sales - Understanding how these transactions work and when they may make sense for your startup
• Balancing stakeholder perspectives - Why some investors embrace secondaries while others resist, and how to navigate these dynamics
• Building sustainable equity incentive programs - How providing liquidity options can strengthen team commitment and motivation
• Real-world case study - Upcover's approach to incorporating team liquidity into their Series A funding round

Who should attend?
• Startup founders considering secondary sales options
• Early-stage employees curious about liquidity opportunities
• Investors wanting to understand founder and team perspectives • Legal advisors working with startup equity structures

Skills and knowledge you’ll gain from attending?
• Practical understanding of secondary sales
• Understanding when secondaries make sense for your startup
• Tips for implementing team-wide liquidity programs
• Insights into current market trends and investor sentiment around secondaries

About Skye Theodorou:
Skye is the Co-Founder & CEO of upcover, an insurance tech business that has helped 100,000 Aussie businesses get mind blowing hassle free insurance that suits their business and stage of growth. Access to market leading insurance simply and easily online. They are democratising access to insurance too by helping brands or marketplace to offer business insurance that is simple, easy and affordable.

About upcover:
Upcover is Australia's only platform for SME and Specialty lines insurance products, and trusted by 60,000+ small businesses, startups and scaleups. Founded by Skye and Anish, the platform offers business insurance (indemnity, liability, cyber etc.) drawing on underwriting capabilities of 30+ global and local insurance partners. upcover has issued more than 15,000 policies for 10,000 businesses and is looking to grow following their Series A fundarise in this year.

About Cal Davidson:
Cal is the Head of Partnerships at Cake Equity, a leading equity management software that helps startup founders accelerate team motivation through equity ownership. With extensive experience in business development and partnership strategy, Cal drives growth by building scalable alliances that support Cake's mission to simplify and modernize equity management. He specializes in developing partnership programs and collaborative ecosystems that benefit startups, investors, and corporate partners. Cal regularly shares expert insights on equity management, startup growth, fundraising, and investor relations at industry events and webinars - a thought leader in the fintech and startup communities.

About Cake:
Cake Equity is the best cap table and equity management software to help startup founders accelerate team motivation through equity ownership. We combine essential equity tools with an intuitive, modern interface and transparent pricing to make equity management straightforward. Our core differentiator: we're built to help teams understand and feel connected to their ownership stake, turning equity into a powerful motivator for company success.