HAUPPAUGE, N.Y., June 03, 2026 (GLOBE NEWSWIRE) — TSG Invest, a multi-entity financial services firm providing accredited investors with research and access to pre-IPO opportunities, today published a free educational resource titled Pre-IPO Investing: The Ultimate Guide. The guide explains how investors can buy shares in private companies before a public listing, how the structures and risks of the private secondary market work, and what to look for when choosing a partner in the space.
The guide responds to a clear market shift: companies are staying private far longer than they used to. The average company now reaches its IPO about 13 years after founding, up from a median of 10 years in 2018, which means much of a company’s highest-growth phase now happens while it is still private. The guide explains the regulatory roots of that shift — including the JOBS Act of 2012, which raised the shareholder threshold that forces a private company to begin public reporting — in plain language for investors who are new to the asset class.
“Most people have heard the term ‘pre-IPO’ but have never had it explained clearly,” said Drew Spaventa, Founder and CEO of TSG Invest. “We wrote this guide to demystify the private market — how the structures actually work, what some risks are, and what questions to ask — so investors can hopefully make informed decisions regardless of which firm they ultimately work with. We expect to continue to add to this guide on an ongoing basis.”
The guide walks through the practical mechanics of the market: the channels available to investors, from traditional brokers and secondary marketplaces to tender offers and pooled vehicles; the difference between buying shares directly and gaining exposure through a Special Purpose Vehicle, or SPV, which now accounts for more than half of secondary-market transactions; and the documents an SPV investor should expect to review, including the Operating Agreement, Private Placement Memorandum, and Subscription Agreement. It also addresses how investors realize returns through IPOs, direct listings, SPAC mergers, and acquisitions — and the real possibility that no liquidity event occurs at all.
The guide pairs with the firm’s TSG Venture 50 Index, a proprietary list of mid-to-late-stage private companies that TSG Invest tracks for research purposes. Both are provided for educational purposes only and do not constitute investment advice or a recommendation of any security.
About TSG Invest
TSG Invest is the trade name of The Spaventa Group LLC, a multi-entity financial services holding company headquartered in Hauppauge, New York, with offices in Jersey City and Old Bridge, New Jersey. Founded in 2020 by Andrew “Drew” Spaventa, the firm operates through TSG Alpha Partners LLC, an SEC-registered investment adviser; TSG Capital Advisors LLC, a FINRA- and SIPC-member broker-dealer; TSG Insurance Services LLC; and TSG Fund Management. TSG Invest provides family office-style wealth management, alternative investments, pre-IPO venture capital access, and related services, supported by its proprietary Venture 50 Index and TSG Vault platform. Registration with the SEC or FINRA does not imply a certain level of skill or training.
For more information, visit www.tsginvest.com.
Ryan Tiernan
Media Relations, TSG Invest
(631) 210-7263
info@tsginvest.com
www.tsginvest.com
